EUR/USD: There Is A ‘Usual Pattern’ Around This Week’s
Daily Look

EUR/USD: There Is A ‘Usual Pattern’ Around This Week’s

The decision of the ECB is coming up and more previews are coming up. How much will the ECB taper? Does it matter? There is a trading pattern that appears with every ECB meeting. What can we expect? Here is the view from Nordea:

Here is their view, courtesy of eFXnews:

Nordea FX Strategy Research  discusses EUR/USD outlook into  the ECB meeting on Thursday.

“The meeting is expected to set the outline for the tapering strategy; we expect the ECB to try to sell the reduction in asset purchases as a dovish policy recalibration, after which monetary policy will remain highly accommodative for a long time.

Specifically,  we expect an extension of the asset purchases by at least six months, by reducing the monthly net purchase volume from EUR 60bn per month to EUR 30bn, effective from January 2018,” Nordea expects.

The usual pattern of the EUR when the ECB extends its QE program is however that the EUR weakens somewhat in the following days.This is our prediction for this week,” Nordea argues.

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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.