This month there is a 90% chance the Federal Reserve will raise interest rates, as indicated by Fedwatch. In the US data will be published on the labor market and it is predicted that the number of vacancies will be 6,030M, which is slightly fewer seats than last month.
As for the European Central Bank, in the coming months interest rates are most likely to remain unchanged. On Thursday the ECB will publish a forecast of the expected level of inflation until 2020 and will announce a possible plan to raise interest rates.
Based on the overall picture, we can see that our price is bearish because we look for the point of entry for short positions.
At the moment, looking at the chart we see a correctional movement and technical indicators are in the overbought zone because the Trade Council will enter the market near the local resistance levels 1.1820 - 1.1790, and our medium-term goals are to put a mark near 1.1720 -1.1675.
