Euro Remains Unchanged After ECB Statement

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.


This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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