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EURUSD Pullback - Looking to sell

Last week's press conference from Draghi and the ECB instilled some bearish pressure on the Euro. This week, so far we have seen several of the Euro crosses pull back. In focus is the EURUSD. The pair still has further downside potential while below the pre-ECB highs of 1.1330.
So far we have already tested the 50% Fib and pulled back a bit. Can't rule out another leg lower, but short side is favored in these levels.
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Joe_Vulcan avatar
Joe_Vulcan 29 Oct.

Still selling as of reading...

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ECB Press Conference Follow up

Yesterday I wrote a blog post on what to expect on the ECB press conference. The original post can be viewed at the link below
What can move the EURO during the ECB Press Conference
Here is a follow up on the Key points on what actually happened
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What can move the EURO during the ECB Press Conference

Today the ECB will have a press conference following the min bid rate. Here are the key talking points in my view -
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ECB Draghi - More QE?!?

CNBC Released an article today suggesting we may see more QE from the ECB. Here are the highlights
  • New wave of EUR strength undermines ECB efforts to boost inflation
  • ECB meeting on Thursday - Expecting Draghi to comment about future support from the Central Bank
  • Increased demand for Euro's on the back of China economic concerns and US Rate hike expectations (or lack of)

Full article can be found at link below:
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Webinar Summary: EURUSD Analysis ahead of ECB Draghi's speech

If you missed today's webinar titled EURUSD Analysis ahead of ECB Draghi's speech. Here is a brief summary:
Focus on the pair is to look for trades to the long side. Here are the notes
  • Draghi will be looking to stall until further inflation data, lack of a catalyst can dry up selling pressure
  • Further Monetary policy changes are required to break key 1.3500 support
  • Order Flow Book shows orders stacked at 1.3500
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