EURUSD: ECB Meeting : Risk event - Central Focus tomorrow.
Market will pay all attention on ECB Meeting with a rate decision and press conference.
100% ECB will not deliver more easing. There is no more room for rate cut as well as QE. Indeed.
And the fact is EZ economic data performed very well from last meeting, so ECB has no reason to talk about more easing.
Likely it will be a non-event.
Since last meeting, EURUSD rallied 1.08 to current level 1.1300: About 500 pips. Clearly, ECB doesn't like this rally, but ECB's members have no choice to prevent this.
In my opinion, BUY Euro is a good choice.
But there is one case for Euro fall.
If Mario Draghi's tone is so dovish, and signals for more easing, more measure. That will be different. Euro will fall freely if this case occurs. However, I think there is 20% possibility.
1.1500 is my target for incoming ECB Meeting.
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100% ECB will not deliver more easing. There is no more room for rate cut as well as QE. Indeed.
And the fact is EZ economic data performed very well from last meeting, so ECB has no reason to talk about more easing.
Likely it will be a non-event.
Since last meeting, EURUSD rallied 1.08 to current level 1.1300: About 500 pips. Clearly, ECB doesn't like this rally, but ECB's members have no choice to prevent this.
In my opinion, BUY Euro is a good choice.
But there is one case for Euro fall.
If Mario Draghi's tone is so dovish, and signals for more easing, more measure. That will be different. Euro will fall freely if this case occurs. However, I think there is 20% possibility.
1.1500 is my target for incoming ECB Meeting.
------------------
If you like my analysis, visit my page:goo.gl/zGH0RT
And my website :trackingforexsignals.com/
Free 1 month. You like, You subscribe.
More than 100 signal providers and +200 positions in Trading System. Track the best signals. No site has such feature around the world. Precise and Profitable.
- Trackingforexsignals - Think the right way
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