FXStreet (Edinburgh) - The European currency is now fading the initial advance to 1.1580, sending EUR/USD back to the 1.1560/55 band.
EUR/USD looks to consolidate pre-ECB
Spot remains within a narrow range on Wednesday, as markets get closer to the ECB meeting tomorrow. In the meantime, market chatter now unveils the possibility that Draghi could disappoint the markets tomorrow, either via announcing a QE programme ‘just in line’ or even below expectations (currently something around €500/50 billion) or postponing the announce for the next meeting on March 5th. Either way, spot remains isolated with gains limited in the low-1.1600s and the support area in the 1.1500 neighbourhood so far.
Read more Click Here / www.trade4x.net
EUR/USD looks to consolidate pre-ECB
Spot remains within a narrow range on Wednesday, as markets get closer to the ECB meeting tomorrow. In the meantime, market chatter now unveils the possibility that Draghi could disappoint the markets tomorrow, either via announcing a QE programme ‘just in line’ or even below expectations (currently something around €500/50 billion) or postponing the announce for the next meeting on March 5th. Either way, spot remains isolated with gains limited in the low-1.1600s and the support area in the 1.1500 neighbourhood so far.
Read more Click Here / www.trade4x.net
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