The all-important ECB meeting is just 8 days away, and some information (or misinformation) is beginning to emerge. EUR/USD drops sharply, reaching just 5 pips from the previous 7 month low and not really bouncing. The reports talk about broader bond buying under the Asset Purchase Program (APP) or the ECB’s QE plan. In addition, the Frankfurt based institute is considering a two tier program for the negative deposit rate. In Switzerland, such a program is already in place. No numbers are emerging just yet. It is important to remember that the ECB president Mario Draghi has shown his ability to under-promise and over-deliver, and this may happen once again. The number in EUR/USD are clearer: the low so far is 1.0597, just 6 pips above the 1.0592 level seen earlier in the week. This is the lowest since April. The low in that month was 1.0530, which is the last support line before the 12 year low of 1.0460. Resistance appears at 1.0630 and 1.0670. So far, the bounce hasn’t reached these levels. While a hike from the Federal Reserve seems to be more priced in, a move from the ECB and its details remain unclear. In our latest podcast we explain how to trade the euro printing machine: Follow us on Sticher or on iTunes 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next NFP The Sequel; Trading The Report – BofA Merrill Yohay Elam 7 years The all-important ECB meeting is just 8 days away, and some information (or misinformation) is beginning to emerge. EUR/USD drops sharply, reaching just 5 pips from the previous 7 month low and not really bouncing. The reports talk about broader bond buying under the Asset Purchase Program (APP) or the ECB's QE plan. In addition, the Frankfurt based institute is considering a two tier program for the negative deposit rate. In Switzerland, such a program is already in place. No numbers are emerging just yet. It is important to remember that the ECB president Mario Draghi has shown his ability… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
