ECB “sources” send EUR/USD down 30 pips – a buying

0

According to Reuters, which usually has access to ECB sources, the European Central Bank cannot agree on setting a final date for its bond-buying scheme.

EUR/USD falls from 1.1990 to 1.1960.

Two weeks ago, president Mario Draghi told us that the ECB will probably reach a decision on QE in its October decision. He also dedicated a long part of the press conference to complain about the exchange rate.

And now, they may postpone part of the decision to the December meeting. The sources also repeat the concern about the strength of the exchange rate. This seems

This seems like an attempt to talk down the euro. This time it is anonymous, and last time it came from Draghi’s mouth.

All in all, this may be a buying opportunity, similar to the reaction to Draghi’s jawboning.

Here is the euro/dollar chart, showing the drop from the gradual rise to the highs.

Update: the low is 1.1955 and the pair is already up to 1.1977.

Get the 5 most predictable currency pairs

About Author

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 the 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.

Comments are closed.