Trading news

EUR/USD: Draghi shot back with promises

By Kira Iukhtenko

On the ECB November 6 meeting Mario Draghi has once again used his beloved tool of monetary stimulus: promises. Monetary policy remained unchanged, but Draghi underlined the ECB will be unanimous in launching new stimulus if needed. The overall economic prospects remain gloomy, so markets will now be expecting a large-scale QE to come in December. Dovish ECB tone pulled EUR/USD down below 1.2400.

Euro zone is scheduled to release a block of important data next Friday: don’t miss October CPI and flash 3 quarter GDP data.

Technical picture: EUR is now clearly oversold with the short positions at their 2012 levels, so we concede a bullish correction towards the 1.2700 mark. Our main trade idea is selling the pair on rallies with a medium-term target at 1.2250. This is where the 200-month MA and the trend line support lies.

Friday, 07 Nov, 2014 / 2:54

Source : http://fxbazooka.com/en/analitycs/show/2815

Trading news

 

EUR dropped as Covid-19 engulfed Europe

  The focus of traders’ attention shifted from Brexit and the [...]

Posted on Wednesday, 28 Oct, 2020 / 11:27 under

Euro under fire as new lockdowns loom

  Euro on the chopping block ahead of potential French lockdown [...]

Posted on Wednesday, 28 Oct, 2020 / 10:06 under

DAX plummeting after Merkel proposed 1-month lockdown restrictions – DAX 30 Market Outlook – 28/10/2020

The Dax-30 is heading towards a third consecutive daily close in the red, [...]

Posted on Wednesday, 28 Oct, 2020 / 8:47 under