EURUSD Against the ECB Rate Decision

EURSD has found support at 1.3000 for the past week. If it continues bouncing against this support level, the trend for the next week may be bullish. However a lot depends on the ECB’s decision about the interest rate on May 2nd.

If the rate is cut, it will put a pressure on EUR and we will see the pair going down into below the current support level. It will result in a bearish trend extending into the coming weeks.

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