The Interest Rate Decision will be released in the Eurozone. Following up, The ECB governor Mario Draghi will hold a press conference. The general option of the market is that ECB will not launce new stimulus this week and that the focus will be Mario Draghi’s speaks because it will bring huge influence to EUR. If he indicates more effort will be put on the interest rate cute, EUR/USD will be likely to fall down to the 1.1100 level. If he says they need more time to watch the influence the present easing policies have on the economy, EUR/USD will probably upturn toward 1.1400 level.
EUR/USD
Seen from Chart H4, it is possible for EUR/USD to end the bullish trend and begin a bearish trend. The morning market shows that the main trend will be falling so we are buyers of put options.
Support: 1.1227/1.1240 Resistance: 1.1330/1.1377
GBP/USD
Seen from Chart H1, MACD is shrinking toward the Zero Axis, which shows the bearish momentum is increasing. We are mainly put options buyers.
Support: 1.4300/1.4260 Resistance: 1.4397/1.4424
USD/JPY
Seen from Chart H4, MACD comes above the Zero Axis. The bullish momentum is still increasing. As there is still room for a further rise, we are mainly call options buyers. Stop it for a while at the 111.00 resistance.
Support: 109.40/109.25 Resistance: 111.00/110.50
[Tips]
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