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16.03.2020 10:42 AM
The Fed unexpectedly lowered its key interest rate to 0.25%.

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At the last ECB meeting, Christine Lagarde did not lower euro's rate, which is actually a positive news for the currency.

This was caused by the 800p gap in the EUR/USD pair.

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Now, the weakening of the dollar, associated with the rate cut to almost zero, can push the EUR/USD pair into a third wave in the D1 timeframe:

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Thus, the potential passage of 4000p to the zone of 1.15 and higher is broken off.

I recommend carefully working for the increase, not forgetting that volatility is expected to increase this week due to the huge infusion of the dollar supply in the market.

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Good luck in trading and control your risks!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2025
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