ECB Will Not Hesitate to Act When Necessary

GOOGL shares closed at $383, down 1.88% in the last session. While the RSI at 34.8 approaches oversold territory, the MACD remains below the signal line and in negative territory. The price is trading below both the 20-day ($386.8) and 50-day ($392.5) moving averages. The ECB's hawkish stance on rate hikes may exert pressure on technology stocks. Given the weak short-term technical outlook, the downtrend is expected to continue.

EURUSD is trading at 1.1637, posting a slight decline over the past 24 hours. The RSI stands at 47.7, indicating neutral territory, while the MACD remains below its signal line. The price is hovering just under the 20-day and 50-day moving averages (1.1641 and 1.1634, respectively). The ECB's rhetoric about acting if necessary could create uncertainty in the market, but it is not sufficient to determine a clear short-term direction. Therefore, the short-term outlook is assessed as neutral.

EURJPY is trading at 185.21, recording a slight 24-hour increase. The RSI at 62 indicates a buying zone without being overbought, while the MACD shows positive momentum above the signal line. The price remains above the 20- and 50-day moving averages, supporting a short-term bullish trend. News that the ECB will not hesitate to act if necessary could provide support for the euro and trigger upward movement in EURJPY. However, caution is warranted given the risk of limited upside.

The EUR/TRY pair is trading in a neutral zone, with the RSI at 50.5. Although the MACD remains below the signal line, the difference is quite narrow, indicating weak momentum. The price is hovering just above the 20-day and 50-day moving averages, suggesting a short-term support area. The ECB's hawkish rhetoric on rate hikes could support the EUR, but upward movement may be limited due to pressure on the Turkish Lira and high inflation. Therefore, further catalysts should be awaited to determine a clear direction.