Pashabxl

EURUSD: 4 Candles later. 1.362... Towards 1.375 and 1.382

FX:EURUSD   Euro/U.S. Dollar
Dear readers, no suprise, as forseen, interest rates have been lowered by ECB President Draghi and no QE has been announced yet although ECB state that they are working on it.
2-We have seen the price as I've forseen yesterday, i.e 4 candles before ECB decision that price my go down to 1.355 and even 1.352 which it did, and now there is a recovery towards 1.362 at the present time, and we may see a move upwards toward 1.366. If this level is broke, the next stage is 1.372, 1.375 and 1.382 before ECB make any intervention on the market.
There well be a correction towards 1.358-1.36 but the move is again on the upside. Because lowering the interest rate at that time is not enough and the idea was already bought by hte market.
Having said that, please keep in mind 2 important issues if not 3. Tappering is not finish yet, which means that FED is still printing money... Less then before but still.
The second issue is that if ECB is thinking about a European QE , it means that European Economies didn't recovered as one would have expect. Think about the public debt, the low growth and the growing unemployment.
Same things could be said regarding the US Economy. Therefore, Euro             may go up even tdefeating 1.40 and above but then ECB would have to intervene because above 1.41, EU is loosing its competitive advantage concerning the export of its good.

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