Kumowizard

Indecision before ECB. Will Draghi say anything???

FX_IDC:EURUSD   EURO / US DOLLAR
108 1 6
Seriously. This is the one and only question. He tried to do everything. tried to talk it down during last two meetings. And where is it trading? Higher.

What will he do tomorrow? I think he will do nothing, just repeat same things. Of course He will try to look super dovish again. But you know how it works... just a small less dovish hint during Q&A, and booom reverse.

Market is undecided. I am as well. I cut my longs, keep only a small. Whatever Draghi says, can mean a lot or can mean nothing. You saw the case with Doha shock and quick recovery/reversal. From here, any scenario is possible: a rip, a dip, a dip and a rip.

Weekly:
- Neutral Ichimoku setup
- Heikin-Ashi undecided, but haDelta/SMA3 still above zero line.
- Price above 100 WMA and all average lines, but below range top.
- EWO             is bullish (not yet strong)

Daily:
- Ichimoku setup bullish , with some lack of momentum
- Heikin-Ashi neutral, undecided.
- EWo             less bullish .

In the long run I still prefer long EURUSD             . On the other hand it might not be the past pair if you want to short USD. Then I rather look at GBPUSD             , which may have a lot bigger upside and also in case EUR is hit further on crosses, less downside risk.

As far as EUR is concerned, I don't know if it is trading bearish on other crosses, or the opposite ccys (CAD, AUD, SEK             , NOK             ) are temporary more bullish . What I want to say here is, that maybe EURUSD             can keep on trading like gold: rangebound. Other FX crosses have trends, such as other metals have been more powerful recently.
He was less dovish as mkt expected. EURUSD ripped to 1,14, then late buyers stopped back below 1,1300.
What can I say? Indecision before Draghi - indecision after Draghi.
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