Eurusd/gbpusd - page 1751
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Ranging before the big news. Market is cautious. We should be cautious too. Bearish trend continues, but careful
Level 1.25 becoming a pivotal level now. Since EURUSD made a double bottom we can see some major trend decisions now
ECB will not change rates
So the most important today is the ECB press conference. I am out of the market till then
The ECB Rate Decision comes out today and tomorrow we'll learn the change in the USD Non-Farm Payrolls. These events always provoke great volatility in the market but they are also an excellent opportunity for big profits. Good luck to everyone who are planning to trade when the news come out.
majority expects that ECB will step back fro QE announcements - that will cause break up
Now let see what will mr Draghi tell
If he continues with the same old anything can happen as a reaction to his words now. And knowing that the NFP expectations are high for tomorrow we can expect the NFP pricing in as a result
This clarifies a lot of things. Resistance held. Bearish trend continues. Take care not to be caught by the whipsaw (NFP is going to be even more volatile now)
Eur/usd hits new low, that's more than 100 pips as Draghi speaks, he said they expect inflation to remain below but close to the 2.0% target, but that the Governing Council is unanimous on using additional measures if needed.
Get this updateGBP/USD anchored to $1.60.
The Bank of England is also very unlikely to make changes to base rates this morning. If anything, the speculation that the central bank will hike interest rates in the near future has been tempered by lower inflation rates and a softening in UK economic data lately.
The pound is still in a downtrend since topping out in July at the highs of $1.7190. Again, somewhat anchored to the $1.60 level, it seems that for now this level will be acting as a barrier to upside. A move back through $1.5960 will take us back to yesterday’s lows at 1.5875. A move through here would put the pound on a course towards $1.58.
A move through $1.6080 is required if the pound is to recoup and push back towards $1.6183.
Level 1.24 broken
If NFP tomorrow is going to be as good as they are promising, level 1.23 is going to be taken in not time. 1.20 here we come