This will be the most important week of this year so far, with the investors paying attention to the various decisions made by the Central Banks (BoE, Fed and ECB), as well as data on the labour market, according to the NFP.
EUR/USD - 1 hour time frame chart
The EUR/USD pair is expected to remain quite volatile throughout the week.
On the 1-hour chart, we can see that the price continues to lateralize close to the highs registered this year.
Bearing in mind that a decrease in the pace of interest rate hikes is expected on the Fed's side, and on the other hand, an interest rate hike of 50 basis points on the ECB's side, the euro could again put pressure on the US dollar.
In this scenario, if the bulls break off the current range, the bullish momentum could go even further.
EUR/USD, 1 hour time frame chart. Source: xStation 5
EUR leads the gains this trading session.
Heatmap. Source: xStation 5
Henrique Tomé, XTB Portugal
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