EURUSD - Will the ECB Bring the Euro Down?

FX:EURUSD   Euro Fx/U.S. Dollar
Will ECB take any action today and bring the euro             down, or will let it burst above 1.4000.
From the technical point the price has drawn a Rising Wedge which broke the down trend line . This along with the negative divergence on the 28 periods RSI give a strong sell signal. A break below the lower line of the pattern would be a good confirmation for the signal. If the ECB will take no action today then we might see a break above 1.40 and the bulls might target 1.45.
I'm vouching for a 1.35 dip to buy from... that is hopefully if 1.40 - 1.41 is not taken out!!
+1 Reply
The interest rate was kept, if Draghi will not announce any liquidity injection I believe that 1.40 will be out by the end of this week. I am also hoping for a dip, though
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1.40 almost here
Sadly yes!!! But I think a 1.35 dip will be on the cards. I don't think we've seen the end of Euro at 1.4.. Maybe this will be the new norm. Who knows.
Razvan justatrader
aaaaand...you were right :D
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