EURUSD forexsignal - Still Bearish After the ItalianElection
Set a buy-stop at 0.9745 and a take-profit at 0.0965.The EUR/USD price continued falling as the strong US dollar continued its bullish trend.The pair has dropped by more than 14.80% this year and by 15% from the highest level this year.The EUR/USD price continued its bearish trend because of the rising US dollar. The dollar index continued surging and is currently sitting at the highest level in more than two decades.
Europe, on the other hand, is heading towards a recession as energy prices continue soaring. During the weekend, the head of TotalEnergies warned that European countries should prepare to pay more for gas as the crisis in Ukraine escalates. The next key catalyst for the pair will be the upcoming Germany GDP numbers from Germany. Analysts expect that the country’s economy expanded by 1.8% in the second quarter. Germany will also publish the latest business expectations and current assessment. Christine Lagarde and other ECB central bankers will deliver statements.
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