EURUSD: Will ECB kill Euro next meeting ?

FX:EURUSD   Euro / U.S. Dollar
500 0 6
- Fundamental Analysis

After a quite trading week, this week, with the return of important economic data promises an eventful week to trade.

Definitely, the main focus is ECB Meeting on Thursday, and we also have a EZ CPI             data on Wednesday.

A rate decision and a press conference are what traders watch in the meeting.

So what do they actually expect and hope ?

Clearly, traders are holding massive of SHORT EUR, so they want ECB meeting is a chance to drive EUR lower.

- A 10bp deposit rate cut
- Extending QE to April 2017

I think ECB should do something to finish this financial year, and with recent incidents occured in Eurozone, ECB is forced to act; this is indeed a strong pressure on them. The problem is ECB signaled in last meeting that they will APPLY MORE MEASURE TO SUPPORT EZ, while EZ economic data weren't bright from that time until now.

ECB shouldn't disappoint market, if not, market would punish Euro             leading to a strong retracement and this is what ECB doesn't want.

In conclusion, the divergence between ECB and FED is likelty wider after ECB Meeting on Thursday,

- Technical Analysis

YEAR LOW: 1.0450 , current price :1.0589, only 150 pips to year low.

I indeed want EURUSD             test the year low to take profit my short position of EURUSD             .

If ECB couldn't provide enough catalyst for EURUSD             fall, I wil cut my SHORT position.

A descending channel is capturing EURUSD             price action.

While RSI and MACD indicators indicate that they are lying in oversold zone for a long time. A short term squeeze is understandable.

One more point, I see EURUSD             is too far Kumo cloud and SMA200 as well as SMA100

The longest distance between price and Kumo cloud when it contacted year low is also the distance of current price to Kumo cloud. I think there is a repeat of price. EURUSD             should test year low to finish a repeat of price.

F.B page: http://tinyurl.com/jxayluk
Web page: http://www.trackingforexsignals.com
Twitter: https://twitter.com/SforexSolution
Contact: admin@trackingforexsignals.com

---Sforex Solution: Do the right thing – Think the right way--
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out