EURUSD was exposed to huge levels of volatility following the ECB’s decision to reduce its purchase schedule of €80 billion per month to €60 billion per month. EURUSD currently trades at 1.06342.
EUR/USD continues to be consolidated after the next abortive attempt to break support in the area 1.05, at the same time lack of significant statistics on the agenda of today leaves couple on arbitrary behavior of speculators. The last, however, also act carefully — the publication of a number of important reports from the USA will take place tomorrow, however key event is FOMC meeting. The special enthusiasm in the ranks of bulls on dollar isn’t observed, and the balance of risks in the short term is displaced for benefit of reducing long in the American currency which accumulation was observed in the last several weeks.
Keep short on EURUSD small lot, the target is 1.05 as FED should be more decisive with rate hikes next year, while EU keeps easing the economy.
The EUR/USD pair plunged to fresh 14-year low and reached the 1.0352 price level. Is now the time of parity? Or not yet?