The EUR/USD is treading water ahead of Draghi’s conference
The EUR/USD was trading a leg lower as equity markets rallied, awaiting Draghi’s conference this week. Although inflation is weak, the European Central Bank (ECB) is expected not to ease this month and to keep rates unchanged, thus giving the EUR/USD a possibility of another rally as it breaks 1.1330 to reach 1.1365 and 1.1398 respectively.
However, a push below 1.1250 is needed for the EUR/USD to extend its bearish move toward next support levels 1.1220 and 1.1190.
Disclaimer: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.