The Euro extends the overnight gains in Thursday Asia trade high made at 1.2440. The euro traders are firm ahead of ECB meeting today, but not EUR the price keeps hitting the roof.
We do not expect the ECB to change its tone today. But we are closely watching to the press conference for changing the forward guidance and its pace.Three of the Governing Council members expressed the risk around EUR elevation. We believe the change of the tone will take place in March and we also believe today’s tone likely to be “well balanced to slightly dovish”.
Market participants are after an early exit clues from Dhagi. If today’s meeting misses any clues, profit taking action could grab the driver position. Alternatively, in a bullish scenario, 1.2500 will be a next available destination followed by 1.2600.
www.keytomarkets.com...escending-trendline/
We do not expect the ECB to change its tone today. But we are closely watching to the press conference for changing the forward guidance and its pace.Three of the Governing Council members expressed the risk around EUR elevation. We believe the change of the tone will take place in March and we also believe today’s tone likely to be “well balanced to slightly dovish”.
Market participants are after an early exit clues from Dhagi. If today’s meeting misses any clues, profit taking action could grab the driver position. Alternatively, in a bullish scenario, 1.2500 will be a next available destination followed by 1.2600.
www.keytomarkets.com...escending-trendline/