0606 ECB Likely to Surpass Fed in Rate Cutting.EU DOWN FOR THAT?Hello traders,
European Central Bank (E.C.B.) is likely to overtake the Fed in terms of rate cuts today in later session. While the Fed has been seen as the global weathervane for monetary policy, the E.C.B. may take more aggressive steps to stimulate growth as pressures on the eurozone economy increase.
This CUTTING rate decision could make EURUSD turn down from this week. Check these charts:
Left daily chart, waiting for a fake breaking through signal or bearish confirming signal when EURUSD trying to retest the daily pressure zone.
On the right weekly chart, EURUSD is considered sideways price action in a downtrend channel. If ECB decides to cut rate today, it could make a reflection point on this channel and down to test low as the arrow.
GOOD LUCK ON THIS SELLING PLAN AFTER CONFIRMING ECB CUTTING RATE DECISION.
LESS IS MORE!
