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market-update-Limitless-Trading

There is no FOMC meeting on Oct but European Central Bank’s(ECB) Interest Rate Decision is coming this week on 27 Oct 2022.

EURUSD has been below parity for a while. The market consensus for this round of ECB meetings is to raise 0.75% to bring the interest rate to 2%. This should have already been priced in the current market. However, any rate hike of higher than consense will make EURUSD bullish.

EURUSD Bullish Factors

EURUSD Bearish Factors

We believe the direction of EURUSD is not clear at this moment.

Recommendation

With this outlook, and to be on the safe side, we strongly recommend all Ophiuchus and Limitless EA users to schedule to stop trading for this period starting from 26 Oct till 28 Oct. You can use the stop trading period feature in the EA to do that. You can also decide to extend the stop trading period (eg, till 29 Oct and only start trade on the week after next) if you would like.

Disclaimer – Please note that Limitless Trading is not liable for our recommendation and is not responsible for any loss or profit caused by this recommendation. You should assess your personal circumstances and perform your own research to make decisions for your trading.