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EUR/USD, H4 chart.
What's going on and what to do?
Euro behaved rather paradoxically last week. It rose before and after the Fed policy meeting, which was very surprising. Most likely, the reason was the rally in pound, which occurred after the Bank of England announced a rate hike. The European Central Bank, on the other hand, only said it is preparing to curtail programs that support economic growth, despite inflation being a key problem in the area. The indicator is already at 5%, well above the target of the central bank.
With regards to the Fed, tapering will speed up, with bond purchases reducing to $ 30 billion each month. This will make the program complete by April instead of June as previously planned. Wall Street analysts commented that the Fed seems to be preparing at least three rate hikes throughout 2022.
What happened next to the euro? It fell sharply at the close of the week, almost to the weekly low of the H4 chart.
Technically, the trend is down, but the price still needs to move to 1.1220 - 1.1230.
What can be done?
Buy euro at the current prices, then set stop loss at 1.1220, expecting downward reversal.
Traders could also place a sell stop order at 1.1220 and stop loss at 1.1265.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
