$EURUSD Forex Signal: To Consolidate as Focus Shifts to ECB, Fed Decisions
Set a sell-stop at 1.0980 and a take-profit at 1.0900.The EUR/USD exchange rate moved sideways on Monday morning ahead of the important interest rate decisions by the Federal Reserve and the European Central Bank . The pair was trading at 1.1018, a few points above last week’s low of 1.0965.The most important catalysts for the EUR/USD will be the upcoming interest rate decisions by the Fed and the European Central Bank.
Therefore, there is a likelihood that the bank will continue these deliberations because of the vulnerability of the banking sector. For one, there are still cracks in the industry as First Republic Bank collapses. The European Central Bank will conclude its meeting on Thursday. And because the European economy seems stronger than the American one, there is a likelihood that the bank will hike interest rates by 0.25%.
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