EURUSD: 4 Candle left before ECB Announcement.
In principale market has already priced ECB interst rate decision i.e to lower the interest rate and refi rate to negatif.
Therefore is no decision is taken, Eur will jump high against USD.
If the decision of ECB is limited to interst rate cut, then, there may be a swift move down to 1.355 or even bellow to 1.352 but the buyers will come back on the market, because decreasing interest rate will not be enough for the market. European QE is not yet on the table even if this issue has been discussed by EU memberstates and ECB officials.
Therefore, on a medium term, EUR may move again upside towards a more realistic level i.e 1.385 or even a little bit higher before any genuine intervention o nthe market of ECB.
We are not a heart beat away, but just 4 candle away from ECB PResident Mario Draghi's press conference. LEt's wait and see
Therefore is no decision is taken, Eur will jump high against USD.
If the decision of ECB is limited to interst rate cut, then, there may be a swift move down to 1.355 or even bellow to 1.352 but the buyers will come back on the market, because decreasing interest rate will not be enough for the market. European QE is not yet on the table even if this issue has been discussed by EU memberstates and ECB officials.
Therefore, on a medium term, EUR may move again upside towards a more realistic level i.e 1.385 or even a little bit higher before any genuine intervention o nthe market of ECB.
We are not a heart beat away, but just 4 candle away from ECB PResident Mario Draghi's press conference. LEt's wait and see
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