$EUINTR -ECB Cuts Interest Rates for 2nd Time
- The European Central Bank cut the key deposit interest rate by 25bps to 3.5% as expected, after a similar reduction in June, and a pause in July, reflecting an updated inflation outlook and better transmission of policy.
At the same time, the interest rates on the main refinancing operations and the marginal lending facility were lowered to 3.65% and 3.90% respectively.
source: European Central Bank
Europianstockmarkets
BEL20: Lower long term buy opportunity on the Belgian market.The Belgian stock market is on an aggressive sell of since late April (1D RSI = 31.496, MACD = -58.680, Highs/Lows = -51.2357) after it failed to break the 3,870 - 3,910 1W Resistance Zone. The symmetry on a peculiar 1M Head and Shoulders pattern is uncanny so we will be using the 3,200 - 3,330 supply zone (red rectangle) as a continuous buy entry until the 1W Resistance Zone breaks. Our TP is initially 3,800. Keep an eye also for a potential Golden Cross as confirmation.
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