Breaking News
Black Friday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

EUR/USD: Pair Has 1.17 In Sight

By MaiMarFX (Marios Krausse)ForexOct 25, 2021 04:11AM ET
www.investing.com/analysis/eurusd-pair-has-117-in-sight-200606160
EUR/USD: Pair Has 1.17 In Sight
By MaiMarFX (Marios Krausse)   |  Oct 25, 2021 04:11AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

The US dollar was virtually unchanged last Friday after Federal Reserve Chair Jerome Powell made clear that the Fed will begin tapering bond purchases shortly. He said,

“The risks are clearly now to longer and more persistent bottlenecks, and thus to higher inflation, I do think it’s time to taper, and I don’t think it’s time to raise rates.” 

However, there is concern that faster tapering or more rate hikes will risk a slowdown. The Fed is expected to announce its taper at their policy meeting next week on Nov 3. 

This week we will have the European Central Bank decision on Thursday and the US GDP (Thursday) and core PCE data (Friday).

From a fundamental perspective, the US dollar might be vulnerable to a more significant correction going into the end of the month as Thursday’s US GDP report could show a slowing recovery. 

As for the European Central Bank (ECB) meeting, no policy shifts are expected this month. The central bank is preparing for a significant policy overhaul at the final ECB meeting in December.

Policymakers could start phasing out the emergency plan in December while a new program could follow it.

This Thursday, the focus will be on the press conference and any hints from ECB President Christine Lagarde on faster interest rate increases amid a global surge in inflation.

Current expectations see no ECB rate hike through at least 2023.

Conclusion

To sum up, Thursday’s decision could end with no movement in the EUR/USD.

In short-term time frames, we will pay attention to a break above 1.1670, which could see a test of 1.17/1.1710. On the other side, bears will wait for a significant break below 1.16 to shift the focus toward 1.15.

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.
 

EUR/USD: Pair Has 1.17 In Sight
 

Related Articles

JFD Team
Uptrend In GBP/NZD Accelerates By JFD Team - Nov 26, 2021

GBP/NZD traded higher on Friday after it hit support at 1.9370 on Thursday. The advance brought the rate above yesterday’s high of 1.9460, thereby confirming a forthcoming higher...

Kenny Fisher
Euro Jumps On Coronavirus Fears By Kenny Fisher - Nov 26, 2021

The euro has reversed directions on Friday and has posted considerable gains. EUR/USD is trading at 1.1289 in Europe, up 0.75%. The euro is benefitting from fears of a Covid...

EUR/USD: Pair Has 1.17 In Sight

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email