What am i expecting ?
Well as a mainly technical trader it is in my job description as a full time trader to look at Both technical and fundamental in the market.
After heavy research into the Fundamental side of things i Believe They will launch a round of Monetary easing or Deploy a Rate cut
Why do i think this ?
Well Firstly We all have to look at the bigger picture how is the economy doing ?
Not so good Top two economies are declining (US and Chinese)
In regards to the EUROZONE it is looking even worse especially as many of the countries in the EU need bailouts and are suffering from current economic situations E.G. Greece Italy Ireland All of which are in the euro and are in great trouble
Anyways many Investors predict a huge sell of for the Euro as many believe they may be willing to bring out the big News and expand its aggressive quantitative-easing program, introduce a two-tiered deposit system and offer cheap loans to banks.
If so then expect a huge decline in the Euros currency as
There is a huge imbalance in the Euro at the moment
The question why are the ECB doing this well they are taking any drastic measurer to boost eurozone economy and like the ECB boss, Mario Draghi who said the was “ready to do its part” to boost growth and .
Fading growth and prospects will force the European to review its policy stance And make a change to hellp its growth which of course is its main problem
prospects have turned for the worse, raising a credibility issue for a bank that has undershot for three straight years.
Which is a big worry
So when you put all these factors in based of Fundamentals what does it mean well really nothing until draghi comes out and says it himself and launches Monetary easing or Rate cut's
But if they do decide to go ahead with it expect a huge sell of :) For all EURO pairs
What do i See based on Technicals ?
Well a good thing that supports the sell of is we are below a key level of 1.1000 which is also a nice round number physiological Levels ;)
Also after the big rally In February we have almost completely corrected ourself
which many traders didn't believe would happen as many thought we would break the consolidation zone we have been stuck in after such a nice move
But once again with the EUR/USD price is undecided
We seem to be bounce of our key level which also helps in a bias to the downside
This is my view on the EurUsd
trade safe guys
News is very unpredictable expect the worse
and i hope i didnt bore you to much lol
Thanks for reading happy trading lets make some pips !
Made 1200 Pips in A day Thank you Draghi :)
made 1200 Across all the other EUR Pairs
Glad to be out Before that huge reversal :)