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Draghi: Negative Rates? No Need Now – EUR/USD Jumps

ECB President Mario Draghi is very relaxed in the press conference and says that while the ECB is technically ready for a negative rate, but doesn’t see a need to use it.

EUR/USD jumps above resistance at 1.3162 and heads towards 1.32.

This is the key take from the ECB press conference, and totally different than the previous one.

Once again, Draghi zig-zagged from pessimism last time to optimism and calm now.  He also pats himself on the back regarding the OMT and goes forward to mention rising US stock markets as OMT related.

More levels are in the EURUSD forecast.

[do action=”tradingviews” pair=”EURUSD” interval=”60″/]

Further reading:  Central banks close to unleashing Tsunami of volatility in forex markets

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.