The European Central Bank (ECB) is due to release its policy-setting decision today at 1.45pm (GMT). We expect no change in the language from the ECB.
What’s this means for the euro?
Today’s ECB meeting unlikely to surprise the euro bulls, as a result, range-bound could expect between 1.2500-1.2260. A move above 1.2440 targets 1.2470 and 1.2500/1.2520. Alternatively, a degree of weakness in the euro will be limited to 1.2300 and 1.2260.
We forecasted a bullish reaction to 1.2470 and 1.2540 last week and this week. The major formed a bullish key reversal and rose by 2.30% from early March low’s.
View: If the ECB revise its language= bullish EURUSD
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