$EURUSD Forex Signal: Cautiously Optimistic Ahead of ECB Decision
Enter your emailThere is a likelihood that the pair will likely hold steady ahead of the ECB and then have a pullback on profit-taking.Timeline: 1-2 days.pair continued its bullish trend as investors waited for the upcoming interest rate decision by the European Central Bank .AdvertisementThe EUR/USD price has been in a bullish trend in the past few days as investors reflect on strong economic data from the European Union and the upcoming interest rate decision by the ECB.
Further data from the EU showed that the labor market has made recovery even as the Omicron variant continues to pose substantial challenges. The unemployment rate from the region declined to an all-time low of 7% even as travel remains constrained. Finally, and most importantly, on Wednesday, data by Eurostat revealed that the bloc’s inflation jumped to 5.1% in January.
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