Euro’s Volatility Decreases
2023.03.27 11:25
The currency pair remained stable near the 1.0770 mark on Monday, which indicates a decrease in the exchange rate volatility. According to experts, investors have managed to “master” all the latest news and now there is a period of “rest” in the currency market.
As previously announced, the US Federal Reserve raised interest rates by 25 basis points. However, the signals the regulator gave turned out to be rather ambiguous, confusing investors. It is reported that the Fed plans to continue the fight against inflation. However, the rest of the regulator’s actions remain uncertain.
This week, many important events are not expected on the currency market, but still, it is worth paying attention to the publication of US GDP data for the fourth quarter of 2022. It is also necessary to follow inflation rates in the Eurozone in March and the unemployment rate in February.
General stability in the currency market can benefit investors, who can spend more time analyzing the situation and making informed decisions.
On H4, has formed a structure of an impulse of decline to 1.0714. At the moment, the market has formed a consolidation range above it. A link of growth to 1.0820 is not excluded. Then a decline to 1.0650 should follow, from where the wave might continue to 1.0495. Technically, this scenario is confirmed by the MACD. Its signal line is above zero already and is getting ready to decline, renewing the lows.
On H1 of EUR/USD, the market has completed a structure of a wave of decline to 1.0714. A link of growth to 1.0756 has been formed today. At the moment, a consolidation range is forming around this level. The price might escape it upwards to 1.0824 and then drop to 1.0640. The target is local. Technically, this scenario is confirmed by the Stochastic oscillator. Its signal line is near 50 and we expect it to fall to 20.
Disclaimer: Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.
