Euro’s free fall has brought it to its 12-year lows against the US dollar. However we believe Strong USD and weak Euro will possibly be reversed after today’s ECB meeting.
The all-important ECB meeting is scheduled to hold by 12.45 GMT tomorrow where details on the QE program are expected to be unleashed. We will keep our minds open for possible surprise announcements, as has been the trend for Central banks lately
Light Crude Oil prices retraces after establishing a support at 46.65 and may find resistance by the 55 EMA
GBPUSD is expected to fall with BOE Policy makers dropping call to raise rates and candles are bound to test 1.5059 again this week
AUDUSD continues falling after finding resistance at 0.8212 and may seek to test a psychological price level 0.8000 this week
EURUSD rebounded off support of 1.154, trading slight bullish before ECB press conference and US unemployment claims.
The market has made a decision, how will you react to the USDJPY?
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Two euro-area central-bank officials confirmed the European Central Bank Executive Board has proposed quantitative easing of 50 billion euros ($58 billion) a month until the end of 2016 put all speculation of QE or no QE to rest.
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Gold breaks through its resistance to push higher, advancing above the Fibonacci extension