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ECB Risk to the Downside?

 

ECB Risk to the Downside?

While the ECB will start promptly at 7:45am ET / 12:45pm GMT analyst are rushing to figure out where the Euro may trade. Today the Euro traded higher against the dollar for the first time in nearly 2 weeks. While the dollar has really struggled to move at all due to the goverment shutdown and lack of information thereof. Many analyst are claiming no news is good news for the USD. According to policymakers the risk is to the downside for the Euro. With slowing growth in the Eorozone and the additional Brexit pressure, things are still looking heavy. 

The move will certainly depend on Draghi's tone and veiw on recent economic data whether he focuses on weaker growth (downside) or takes an approach of optimism on some of the better economic points such as the positive spending and labor market(upside). With the last 21 points of economic data 13-Bearish and 8-Bullish for the Euro it will be an interesting battle. Some impotant levels to keep in mind are 1.1470-1.1484 to the upside and 1.1289-1.1275 to the downside. Regardless of direction some good volitility should hit the market tommorow. 

Best of trading. 

Clark 

 

Wed, 01/23/2019 - 11:16pm
 
alexvk

No interest hike to EUR till 2020 due to dominant "downside economic risks" https://www.bloomberg.com/news/articles/2019-01-24/mario-draghi-is-watch.... The US interest rate hike this year is unlikely as well. EUR/GBP, one of the most interesting pairs, is in strong downtrend. A lot of action before the March 29-th deadline https://www.bbc.com/news/uk-politics-32810887.

 
dbuhtz

I am watching for any direction within an hour of trading the EUR/USD, and I find it easier to trade the downtrends than the uptrends. It has worked for me in three months of day trading and 200 trades.