FX.co - EURUSD. The euro is supported by the ECB

2023-03-06T16:14:30

Relevance until2023-03-08

EURUSD on the four-hour chart

The euro is trying to rise as the European Central Bank is expected to raise the rate in a week, by +0.5%.

The ECB's comments will be critical for the euro since there will be a hint of a new hike.

News is swirling around U.S. employment - the ADP report will be released on Wednesday, and the Nonfarm on Friday.

Forecast is employment growth of +200K - this could have an effect on the euro.

I expect the euro to rise towards 1.1000.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Jozef Kovach

FX.co ★ EURUSD. The euro is supported by the ECB