Daily Market Analysis 22.09.2022: EURUSD

Instrument: EURUSD

Technical Analysis

Bullish Preference:  
A Buy position is envisaged if price trades above 0.98883 with take profit at 0.99039.
Bearish Preference: 
A Sell position is envisaged if price trades below 0.98558 with take profit at 0.98406
None with high impact.

European stock markets traded sharply lower Thursday as investors digested another large interest rate hike by the U.S. Federal Reserve, likely setting the scene for aggressive monetary tightening by the Bank of England and the Swiss National Bank. The U.S. central bank lifted rates by 75 basis points on Wednesday as widely expected, and pointed to more rate hikes ahead, a steeper and longer trajectory than markets had priced in. Fed Chair Jerome Powell said the central bank is now willing to risk weakness in the economy as it moves to rein in inflation. This slowdown is likely to have a wider impact given the U.S. economy’s role as a major global growth driver.

Analysis: SCRUM Team

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