December 14, OctaFX – The euro was unchanged in overnight trading as traders continued to assess the monetary policy statement by the European Central Bank (ECB).
Yesterday’s statement said that the bank would stop the €2.5 trillion quantitative easing program as scheduled. The bank also warned of potential risks as the EU economy cools and repeated plans to adjust interest rates ‘through summer’. Investors are worried that the bank’s tightening will come at a time when growth and inflation are projected to slow down.
EURUSD Technical Forecast
After yesterday’s extreme movements, the EURUSD pair calmed down and remained unmoved at the 1.1360 level. The current price is along the 50-day and 25-day EMA levels as the RSI remain at the neutral levels on the 30-minute chart. Therefore, at these prices, there is a likelihood that the pair could breakout in either direction.
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