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EURUSD: What's Next?
US Federal Reserve Chair Jerome Powell’s words.
He said it makes sense to moderate the pace of interest rate increases, although he added that the monetary policy would need to remain “restrictive” for some time. Additionally, he said that the time to slow the pace of rate hikes could come as soon as the next meeting in December.
After yesterday Powell's speech, all the currencies moved against the USD.
However, as we can see EURO didn't manage to rise further so this is showing that the optimism for the EUROZONE it is not so high. At the end of the day also EURO has many problems and the U.S
is just taking it easy this time.
We have to be careful as the price will be bullish only if it will move above 1.0500.
Otherwise, EURO can lose the bullish volume sooner than we may expect.
Thank you and Good Luck!
