Mon, Mar 27, 2023 @ 16:55 GMT
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EUR/USD: More Weakness After Intraday Rally?

Powell sent the USD much higher yesterday and hinted for a potential 50bp increase on next meetings as inflation is still the main issue while the economy is doing well. However, today Powell has another testemony at 15.00GMT when again we may see an important volatiliy. Before that ECB legarde is scheduleted to speak at 10GMT when we cna also expect hawkish comments, so EURUSD may potential try to stabilize for a bit, which would make sense as drop from 1.0695 is in five waves. Trend is down, no doubt so nay boucne in three waves will signal for further weakenss. Resistance is at 1.0570 then 1.0620.

Elliott Wave Financial Service
Elliott Wave Financial Service
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