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EUR/USD: close to important levels of 1200.00, 1285.00 _13/06/2016

Technical analysis and trading recommendations -https://fxpcm.com/en/fx/eurusd-close-important-levels-120000-128500-13062016

Speaking last week in Brussels, ECB President Mario Draghi acknowledged that, despite a number of incentives, ranging from negative interest rates and ending the program of bond purchases at several trillion euros, the ECB's efforts to "bring only insignificant results." Inflation remains significantly below the target level of the central bank, set about 2%, and amounted to -0.1% last month.

As noted today the representative of the ECB and Bundesbank President Weidmann, ECB soft policy is appropriate, given the weak predictions about the price, however, the side effects of super soft monetary policy are increasing with time.

Nevertheless, the ECB intends to continue to keep interest rates in the euro area at the minimum levels, even after the QE program in the Eurozone.

Different directions of monetary policy in the US and in the euro area will continue to be the main factors, among others, limiting any significant growth of the pair EUR / USD.

With the opening of the trading day on Monday at the volatile dollar dynamo observed the foreign exchange market. When paired with the pound dollar is rising against the background of the next UK population surveys in the light of the upcoming referendum in the country, the other major currency pairs dollar it weakened. The EUR / USD is also growing after a two-day drop last week. However, the growth of the EUR / USD for the most part associated with the correction of the previous decline. The pair is still under pressure from weak fundamentals and macroeconomic indicators in the Eurozone.

In the absence of significant news today, the positive dynamics of drivers pairs EUR / USD, is likely to continue. However, on Tuesday it is necessary to exercise caution when opening long positions in the pair. Despite the fact that the probability of rate hikes in the US in June, goes to zero, investors will be ready for the Fed meeting and the publication on Wednesday (18:00 GMT) the Fed's decision on interest rates, and traders cut short positions on the US dollar.

Monday, 13 Jun, 2016 / 12:07

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Source : http://fxpcm.com/en/fx/eurusd-close-important-levels-120000-128500-13062016

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