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.
- Neutral setup
- Heikin-Ashi undecided, but haDelta/SMA3 still above zero line.
- Price above 100 and all average lines, but below range top.
- EWO is (not yet strong)
- setup , with some lack of momentum
- Heikin-Ashi neutral, undecided.
- EWo less .
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 on other crosses, or the opposite ccys (CAD, AUD, SEK , NOK ) are temporary more . 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.