EURO Rate Hike Expected on Feb-3-2022 /// Currently Jan-31-22

31. Jan. 2022

We have seen a news release come out on forex factory around NY open about the expected Interest rate decision by the Bank of England. It turns out that it is indeed expected of the BOE to raise interest rates for the second time in a row. This has not occurred since 2004. This is positive news for the EURO as inflation is not necessarily a bad thing. The cost of money goes up in England, because apparently the economy can handle it, in the eyes of the BOE. This is why it is positive. But personally, I don't hear about wages going up a whole lot. Workers are the backbone of the Economy. Bit concerning. Unsure where price will go from here. Not going to be doing much EURUSD trading as we lead up to the IR announcment on thursday.
I'm leaning Bullish
I would like to see the Daily candle close solid bullish , as it looks to close in 1Hr, (our first daily close of the week)
This would begin our fakeout structure here on EURUSD on the Daily Timeframe

31. Jan. 2022

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4Hr TF

31. Jan. 2022

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31. Jan. 2022

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^^^ 20m Chart I use often because It's in great for market structure and how it relates to the Higher Time Frame Picture

31. Jan. 2022

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CNBC Article regarding potential rate hike from Bank of England
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cnbc.com/2022/01/31/bank-of-england-expected-to-impose-back-to-back-rate-hikes-for-the-first-time-since-2004.html