EURUSD: Waiting ECB Rate Cut and US GDP Data

EURUSD: Waiting ECB Rate Cut and US GDP Data

Today, the European Central Bank (ECB) is expected to cut rates by 25 basis points.
The rate on the Deposit Facility is projected to decrease from 3% to 2.75%, and the rate on Main Refinancing Operations is anticipated to drop from 3.15% to 2.9%.

This expected rate cut may create a slight bearish momentum across all EURO pairs.

Additionally, the US GDP data will be released today, and the market is anticipating positive results. This combination could trigger a slight bearish sell-off for EURUSD.

However, it remains a risky trade, as it is heavily influenced by these news events.

You may find more details in the chart!
Thank you and Good Luck!

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