EUR/USD Stays Bearish as ECB Signals No Further Rate Hikes
Gregor Horvat | Oct 30, 2023 05:38AM ET
Markets are calm and stable today, despite some risk-off flows at the end of last week. However, there are holidays this week in some of the countires so this can change some flows in the mid- week, but keep in mind there is BOJ tomorrow, with some US data on the same day, and then FOMC on Wednesday, followed by BOE on Thursday and US NFP on Friday. So makrets can be volatile still with plenty of interesting moves ahead, but for now the USD remains in uptrend after DXY comes out of a downward channel, so more upside will be expected this week, ideally back to 107.33, while price is above 105.35. I sitll like more euro weakness, especially after makret mvelieve that ECB is done with rates for now, after the policy annaoumcent by the ECB last Thursday. I think very interesting resistance for the EURUSD intraday chart is still at 1.06.
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