Trading plan for August 8 Mario Draghi has managed to make some moderate and skillfully worded comments. EUR/USD initially fell on the news about QE preparation, than rose on the ECB’s confidence about inflation, then slid again as Draghi said that the regulator does plan to conduct purchases of the asset-backed securities and that its diverges from the Fed’s. The daily 40-pip trading range of the pair can be described as narrow. The Ichimoku Cloud onH4 has once again acted as resistance around $1.3395. Yesterday’s bullish hammer candle wasn’t followed by the substantial correction up. This makes look for a decline to $1.3320 and $1.3295. The forecasts for the euro zone’s data due tomorrow are good. This gives euro room for consolidation in the $1.3390/30 area.
Posted on: Thu, 07 Aug 2014 15:00:34 +0000
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