Forex Zone (Forex Zone)
Czech markets  |  October 04, 2012 10:07:50

Super Mario What is your sleeve?


Today is a great day. Sits, the ECB and decide on the interest rate in the euro area. The broad expectation is that the rate will remain at the current 0.75%. We are, however, rather we tend to think that Mario Draghi will surprise and reduces the rate of 0.25%.
Already last week, met Australia's central bank is expected to keep interest rates at their current levels, but there was a surprising reduction. AUD has since weakened and is approaching parity with the USD, which we are warned.I FED rides on a wave of loose monetary policy and so we think the ECB will not want to be left behind.

Our tailed pair EUR / USD last 7 trading days is in the trading range between 1.2840 and 1.2940. This confirms that the participants wait to see what comes today with Draghi. We work with scenarios that if you keep the rate at its current level, so after breaking strong resistance around 1.2940 and closed above it, the space for testing goals, which we in the last two weeks pointed, with the potential to last high price swing.

If the rate cut, we expect that there will be very strong puncture Reviews Support around 1.2840 and medium opens up space for up to test 1.2640 level and extra strong reaction to 1.2500.

Be vigilant today not only for ECB rate announcement and press conference Draghi, also at 16:00 and at 20:00, when they will be published important macro data from the U.S.. If you are trading GBP, so watch the BoE rate announcement. In sum, today may lose significant movement. Be prepared and be careful.

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