- ECB Meeting with a Press Conference.
- EZ CPI
Tomorrow is very very important, and EURUSD will react strongly on this risk event.
Today we see that BOC cut rate and lower GDP forecast.
Central banks are defending from the outside thread.
While Greek problem is not over and a positive deal is not done yet.
ECB must protect themself from any thread.
They cann't be hawkish. Definitely.
There are more negative data than positive data since last meeting.
I think it's very difficult for a positive CPI .
That why I think EURUSD will go down after the event.
This month, we see a high resilience of EURUSD , and I think this will over: EURUSD back to the downtrend.
I wait for a breakout. I thought this will occur tomorrow, but It moves faster than I expect.
While indicator show it rejects the resistance. There is still more room for the down.
- Strong resistance: 1.1100
- Support inturn: 1.0810 1.0650 1.04600
A short position with Stop loss above 1.1100, take profit at 1.0650 is acceptable.
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