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The ECB must be cautious

The ECB must be cautious | 29 June 2023

29 June 2023, EUR/USD

EURUSD trading plan:

The European Central Bank is close to being able to pause the trajectory of rising interest rates so as not to harm the stagnant euro zone economy, ECB Governing Council member Mario Centeno said. "We are preaching the time when monetary policy can pause, we are very close," he said. “Not overreacting is a huge concern for every central bank.” The ECB has raised rates at each meeting over the past year, taking its deposit rate to 3.5%, and promised more tightening as it attempts to curb inflation still running at three times its 2% target.

Investment idea: sell 1.0950 and take profit 1.0880.

David Johnson
Analyst of «FreshForex» company
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