OCT 23rd, 2023 - EURUSD to 1.0767?

2023年10月24日

Before the European Central Bank announces its policy decision this week, the euro is showing a modest uptick against the USD, standing approximately 0.2% higher than Friday's closing rate. Additionally, Eurozone PMIs are scheduled for release tomorrow. The ECB has indicated that it has concluded its rate hikes for this cycle, although a slight possibility of a policy shift in December still exists. With the colder months approaching in the region, energy prices are becoming a primary concern for traders.

We last week's candle was an inside bar indicating a high probability of a significant Euro move in the next weeks. I anticipate some Euro strength and my weekly bias is Euro reaching the 1.0767 handle...