EUR/USD reacts to the ECB

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On June 9, the European Central Bank published its interest rates and Monetary Policy Statement. In general, as expected, the central bank kept its interest rate's unchanged. Meanwhile, the central bank revealed that it would hike its interest rates by 0.25% in July. Moreover, the ECB is set to end its Asset Purchase Program on July 1.

The EUR/USD reacted to the news with an increase of volatility by fluctuating in a 60 base point range from 1.0750 down to 1.0690. In the aftermath of the initial announcement, the ECB hosted a press conference, which increased the range of volatility.

From a technical analysis perspective, the events broke the resistance zone at 1.0747/1.0765. It indicates that the pair might move higher.

If the rate moves higher, resistance might be encountered in the weekly R1 simple pivot point at 1.0793, May 30 high at 1.0787, prior to reaching the 1.0800 mark. On the other hand, a decline of the Euro against the US Dollar might look for support in the 1.0625/1.0640 range.
Back to articles

Actual Topics

Thu, 09 Jun 2022 13:34:48 GMT

GBP/USD decline reaches 1.2500

On Thursday morning, the GBP/USD rate found support in the 1.2500 mark and recovered, until resistance was found in the 50-hour simple moving average at 1.2550. A move of the Pound down against the US Dollar might look for support in the wide June low level zone at 1.2430/1.2480. In addition, the 1.2500 mark might act as support. A surge above

Thu, 09 Jun 2022 11:12:42 GMT

USD/CAD finds support in pivot point

The ongoing decline of the US Dollar against the Loonie has found support. Namely, the weekly S1 simple pivot point at 1.2519 has acted as support. By the middle of Thursday's trading hours, the rate had recovered to the 1.2580 level and reached above the 50 and 100-hour simple moving averages. If the pair continues to recover, resistance might be encountered

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.