RLinda ! EURUSD -> Global resistance is broken. What's next?

28 oct 2022

The European Central Bank raised its deposit rate by 75 basis points to 1.5 percent, the highest since 2009, to accelerate the move to restrictive levels as the central bank seeks to bring inflation down to 2 percent

The following announcement may affect further halting of tightening by the ECB: The European Central Bank President reported that they have made significant progress in lifting monetary accommodation. The size of the next rate hike will depend on the review of the economy and its prospects.
Influencing factors:

• -Record inflation.
  
• -Energy crisis
  
• -Economic crisis
  

From a technical analysis point of view
On the daily chart we see a break-up of the resistance of the global price channel, which happened for the first time since the beginning of February 2022. This fact can be considered as a positive call.
The price forms a technical pullback to the important support zone and the level of 0.99260, after testing which the price can show us an excellent growth.
Recently, small positive fundamental facts are starting to appear, which may start to have a good effect on the price in the future.
Goals:

• - The first one is a strong resistance of 1.0197
  
• - The next one is the liquidity zone at 1.0631.
  
• - Long term target - resistance 1.11709.
  

Regards to R.Linda!