EUR/USD Forex Signal: Long Setup Above 200-Day MA Pre-ECB
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EUR/USD is trading near 1.1640, a two-week high, after reclaiming its 200-day moving average — a bullish technical shift ahead of Thursday's ECB decision, where markets price a 25bp hike to 2.50%.
Trade Setup: Entry 1.1640 | Stop Loss 1.1604 (below reclaimed 200-day MA) | Take Profit 1.1700 | Risk/Reward ≈ 1:1.7. The 1.1604 level is critical; a close below invalidates the bullish structure.
Lagarde's tone on further tightening, driven by energy-led inflation risk, will determine whether bulls can extend this move toward fresh multi-week highs.