FEd's minutes release everybody though that EUR would go avoer 1.14 towards 1.15 or even above but this is not something ECB woud allow.
First let's remember the situation. FED has putted an end to its QE program. Interest rate are low and despite the rumors that FED will increase it's interest rate by summer, this will not be and should not be the case. Because if FEd is increasing its interest rate, EUR may well go bellow 1 and USD would be too expensive for US export.
Commodities prices are at a certain level, but it is not expensive enough for ECB because DRaghi is willing to import inflation. Therefore EURUSD is continuing its progression towards 1.
The price could not go above 0.23 FIB retracement..
On a purely technical point of view, Ichimoku is still clear about the trend. There is no Kumo twist at any foreseeable future nor any imminent Tenkan-Kijun twist.
RSI is still bellow 50 and even though it is above the red trend line, the orientation is on the downside.
The lagging span is far from the prices, and the price couldn't even cross the Kijun.
There is no sign of any change of trend no reversal. Heading towards 1.
And barein mind that ECB will start spreading cash from MArch 6th onwards. And this will increase the price of USD and decrease the value of EUR. Because ECB is willing to play on the inflation through monetary mass and prices.
First let's remember the situation. FED has putted an end to its QE program. Interest rate are low and despite the rumors that FED will increase it's interest rate by summer, this will not be and should not be the case. Because if FEd is increasing its interest rate, EUR may well go bellow 1 and USD would be too expensive for US export.
Commodities prices are at a certain level, but it is not expensive enough for ECB because DRaghi is willing to import inflation. Therefore EURUSD is continuing its progression towards 1.
The price could not go above 0.23 FIB retracement..
On a purely technical point of view, Ichimoku is still clear about the trend. There is no Kumo twist at any foreseeable future nor any imminent Tenkan-Kijun twist.
RSI is still bellow 50 and even though it is above the red trend line, the orientation is on the downside.
The lagging span is far from the prices, and the price couldn't even cross the Kijun.
There is no sign of any change of trend no reversal. Heading towards 1.
And barein mind that ECB will start spreading cash from MArch 6th onwards. And this will increase the price of USD and decrease the value of EUR. Because ECB is willing to play on the inflation through monetary mass and prices.
