31.01.2023 03:43 PM
EUR/USD under pressure ahead of Fed and ECB meetings

This image is no longer relevant


According to the trading chart, the euro fell to 1.0800 but then rebounded to 1.0830.

The euro is increasingly coming under pressure ahead of the Fed's meeting to be held tomorrow. The regulator is expected to lift its key interest rate by 0.25%.

At the same time, market participants are hoping to receive some clues about the US central bank's further inflation-fighting efforts.

The ECB's monetary policy meeting is scheduled for Thursday. I believe the regulator will not raise interest rates.

We could have already locked in profits on short euro positions from 1.0920. However, there is a likelihood that the euro will collapse to 1.0500. In this case, it will be possible to make a more solid profit.

Jozef Kovach,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex always strives to help you
    fulfill your biggest dreams.
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback