Currencies ForecastEURUSD ForecastEURUSD Technical AnalysisForecastsTechnical Analysis

EURUSD Overview: ECB Statement Ahead

EURUSD Overview: ECB Statement Ahead

We have achieved our intraday target at 1.12300 as mentioned in our previous chart.

ECB will announce its monetary policiy statement.

The focus shifts to the ECB for help, which in turn, rightly asks governments to act. President Christine Lagarde warned EU leaders of a 2008-crisis if they fail to act

The bank is expected todecrease rates – 10 bps to minus 0.6- , expand its bond-buying scheme and perhaps introduce new measures.Even if the ECB refuses to act, it may weigh on the euro

Apart from announcing its new policy, the ECB publishes new forecasts for growth and inflation

“The US releases weekly jobless claims and producer prices for February but it is safe to say that are unlikely to shift attention from coronavirus headlines.”

Our road map is mentioned on the H4 chart:

We predict the price fall and test 1.1100. A potential retracement can be seen at 1.1100 towards 1.12000.

Medium term, we plan to add short positions at the breakout of 1.10900 targeting 1.08000 and 1.06000.

Intraday trade opportunities will be updated and posted for the members in the live charts.



Subscribe to our premium packages if you would like to get 1000+ instruments analysis and trade signals of Chartreadreadepro.


Discord Channel

You can contact us via Skype User Name: Chartreaderpro

DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

Show More

Related Articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.