EURUSD: Parabolic move to 162 in 2023
See how FED and ECB Interest Rates impact EURUSD, not technicals. Fundamentals are prime reasons behind the yearly moves. When trading forex Interest Rates play the key role.
Price is likely to end at yearly R1 or R2 (that is very common) and next a few weeks price is likely to keep moving up at rapid speeds, with greater volatility if to compare to 2020 as ECB has not done such aggressive hikes in years.
Such volatility does not give a chance "to buy dips" as there might be no dips to buy, just a vertical parabolic move to 162, which makes it harder to enter. I would use daily CPRs (Central Pivot Ranges) to time the entries.
FOR EDUCATIONAL PURPOSES.
Price is likely to end at yearly R1 or R2 (that is very common) and next a few weeks price is likely to keep moving up at rapid speeds, with greater volatility if to compare to 2020 as ECB has not done such aggressive hikes in years.
Such volatility does not give a chance "to buy dips" as there might be no dips to buy, just a vertical parabolic move to 162, which makes it harder to enter. I would use daily CPRs (Central Pivot Ranges) to time the entries.
FOR EDUCATIONAL PURPOSES.
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