1.3400 is broken and 1.3375 nothing can stop the price now to fall to 1.33 all we need is just a little push
Yesterday the EURUSD took another step lower and printed fresh year to date lows as the greenback strengthened following better-than-expected factory orders and ISM non-manufacturing PMI.
Now the million dollar question: How low can you go?
See my projection here…
http://forums.babypips.com/forextown/57723-eur-usd-long-term-outlook-strategy-2.html
Pure speculation, of course… lines on a chart mean very little 
The EURUSD is at minimum of nine months.
With the weak German data to bring concerns about the recovery of the European Union, the 10-year German Bunds negotiate a positive trend and test highs.
In Italy, industrial production exceeded expectations (0.9% vs. Exp 0.7%).
However, the Italian GDP was much lower than expected (-0.2% vs. Exp 0.1%), causing more pressure on Europe.
Eur/usd keep trading low today, and it hit another new low. After a corrective movement push euro up back to 1.3380 level. We need external factor to break the trend, like the ECB tomorrow.
Yesterday investors were quick to dump the euro, driving the currency to new lows at 1.33326, but then erased all of its losses to trade back up closing at 1.33832 and form a hammer pattern and a bullish divergence.
Today we have the release of ECB interest rate decision and monetary policy. The interest rate is expected to stay unchanged and ECB may loosen even more the monetary policy.
Indeed, no change, and the new LTRO programme may not impact on the ECB balance sheet and the markets
until mid-September, when it is expected to be implemented, so the Euro is still relatively buoyant; however,
the German DAX index has taken a big hit this week, as has the ITA-40 (a given, due to the ‘PIL’ (=GDP)
readings from yesterday morning), and there are concerns that a sovereign yield crisis may also hit the
Euro investors’ sentiment, which would truly be the catalyst for big moves to levels unseen in years
(1.20, for example) for this pair.
An interesting pair, and one that I am long in, is the EUR/GBP, which has experienced a rebound recently;
while the BoE rate decision today may be a non-event, it will still be interesting to see if another no-change
decision will be bearish or flat for pairs like GBP/USD or GBP/JPY… or, even, bullish for EUR/GBP, although
that one may be influenced more by correlation to the EUR/USD’s movements later today…
Good luck to me, to you, and to all traders out there following this!
Draghi’s press conference on in fifteen minutes, live on
ECB: Webcasts: ECB monetary policy decisions
Enjoy the viewing!
Touchdown @1.33000 today after ECB!!! Go, go, go… (Draghi)
Draghi will make euro to be more strong so we are looking at long on eur/usd today
[QUOTE=“ifyforex1;646931”]Draghi will make euro to be more strong so we are looking at long on eur/usd today[/QUOTE]
My thoughts too Exactly!!’
I would not be so sure…
After the ECB rate announcement, and after 45 mins. of Draghi press conference, the Euro/Usd has basically
stayed around the same level as it opened at 12.45pm (GMT+1), namely 1.3374…
Whoever says that they KNOW WHERE THIS PAIR IS HEADING AT THIS POINT should have
magic powers certified by the Guild of Magicians in Cloud Cuckoo Land ;)))
Draghi said among other things:
- unconventional instruments within its mandate
- the economic outlook for the euro area continue to be on the downside
- annual HICP inflation is expected to remain low, before gradually increasing during 2015 to reach levels closer to 2% towards the end of 2016
I like the point 1) - I guess is the legal base for ECB to buy/sell directly in the market, but I am not sure.
2) is what happens now
3) is what will happen
Am I right ?
Mihk… yes, you are right…
What he has been unable to say is anything new…
We knew about TELTRO, we knew about the 2% target, and we knew about the general outlook…
What he has now said is that ABS (Asset Backed Securities) are not an issue of IF but of WHEN…
As he responded on this to a journalist, he said that if he and his team discussed and planned ABS
without any intention to (be ready to) implement them, then it would not be ‘time well spent’!
The EUR/USD is now fifty pips lower than the session high during the press conference… Draghi did say
that the exchange rate is in a better position than it was ‘a few months ago’, and indeed around this time
the EUR/USD reacted to his comments and started heading south… maybe this was a specific reference
to the currency investors, who took heed…
EURUSD Analysis leads to a medium and long-term bearish setups.
But the bullish momentum divergence (RSI) has continued to grow on the 4h charts with the latest drop.
This drop also failed to clear a new daily low under yesterday’s low of 1.3332.
There is an increased risk of a bullish correction here though we will not be getting long quite yet as the dominant trend (bearish) is still valid.
Just a break above 1.3400 (mixed-trend), and above 1.3450 could turn the short-term trend to bullish.
price fell after the press conference i dont think the eur took any strength
As usual : a whipsaw on Draghi telling nothing as we expected, I guess.
Haha funny
EURUSD initially fell during yesterday session, but found support at roughly the same place it did during the Wednesday session and it means that EURUSD is ready to bounce. The pair will more than likely head to the 1.3450 level, and possibly even as high as the 1.3500. Expect significant selling pressure up in that region though, so this is a short-term buying opportunity at best.
i think we look at long postion now on eur/usd also monday going be up trend take the great chance and make money good luck