EURUSD better waiting ECB rate decision and trade after
Today I receive LONG signals from last weekly Committment of Traders (COT) on EUROFX in line with the forecast increasing of ECB Interest rate.
But technically speaking the chart is more short side than long:
- 4-hour chart is touching the higher side of a falling parallel channel
- Daily chart again is touching 50-period Simple Moving Avarage which was a strong resistance since 2021
I will wait the ECB rate decision meeting this week, not anticipating the trade but looking for a confirmation on chart the day after if it will be a breakout or not.
But technically speaking the chart is more short side than long:
- 4-hour chart is touching the higher side of a falling parallel channel
- Daily chart again is touching 50-period Simple Moving Avarage which was a strong resistance since 2021
I will wait the ECB rate decision meeting this week, not anticipating the trade but looking for a confirmation on chart the day after if it will be a breakout or not.
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