FX.co ★ berta.hill | EUR/USD

Good day to everyone! On the hourly EURUSD chart a rebound has formed. As it rises, the price will now face a strong resistance zone at 1.1440, formed by the gap at the beginning of the week. However, by the end of the day I expect EURUSD to fall to the 1.1390 level. Ahead are the ECB meeting (15:15 MSK) and Christine Lagarde’s press conference (15:45 MSK). The market is pricing in that the deposit rate will be kept at 2.25% with no hinting comments about future hikes. This may weaken the euro. At the same time, the dollar may strengthen on US weekly unemployment statistics. The data should confirm the resilience of the US labor market (~210k claims). In that case, the Fed will untie its hands in terms of a hawkish approach to monetary policy.