If price fails to break 61.8 then we should see this move today as we have ECB , the price action can be all over the place.
The last 4 days candles fails to break the extraordinary controlling Shooting Star which does show buyers losing stream hence we are stuck in a very tight range.
BUT; if price breaks 61.8 expect the price to make a double top at 1.2075 over all trend on daily is bullish but we can see retracement today will be spiky its ECB and Draghi as usual!! As the ECB makes its latest policy decision, it faces some major challenges. Inflation is moving higher, but has not yet reached the bank’s 2% target. However, other economic indicators suggest that quantitative easing has produced the desired turnaround in the eurozone economy. But with the euro seemingly unstoppable against the US dollar, any hint of further reductions in bond purchases could put another rocket under the single currency. So how will the ECB walk the tightrope this time, lets see!!
The last 4 days candles fails to break the extraordinary controlling Shooting Star which does show buyers losing stream hence we are stuck in a very tight range.
BUT; if price breaks 61.8 expect the price to make a double top at 1.2075 over all trend on daily is bullish but we can see retracement today will be spiky its ECB and Draghi as usual!! As the ECB makes its latest policy decision, it faces some major challenges. Inflation is moving higher, but has not yet reached the bank’s 2% target. However, other economic indicators suggest that quantitative easing has produced the desired turnaround in the eurozone economy. But with the euro seemingly unstoppable against the US dollar, any hint of further reductions in bond purchases could put another rocket under the single currency. So how will the ECB walk the tightrope this time, lets see!!