Home / Forex & Currency Exchange News / Euro ventures higher after ECB meeting

Euro ventures higher after ECB meeting

Article by ForexTime

The Euro aggressively appreciated against the Dollar on Thursday afternoon with prices punching above 1.2500, after Mario Draghi said economic data indicated “solid and broad” growth. Bulls received further inspiration to elevate the Euro higher after Draghi expressed optimism over inflation potentially rising in the medium term. Although recent exchange rate volatility caused some uncertainty which “required monitoring,” traders still remained convinced that QE would halt before year-end. The bullish sentiment towards the European economy and expectations of easy monetary policy in the region coming to an end, is likely to continue stimulating appetite for the Euro.

Taking a look at the technical picture, the EURUSD has jumped to levels not seen since December 2014 above 1.2500.  The currency pair is bullish on the daily and weekly charts with a breakout above 1.25 opening a path higher towards 1.2560 and 1.2600, respectively. Alternatively, a failure for prices to secure a daily close above 1.2500 could invite a decline back towards 1.2440.




Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Click Here For Original Source Of The Article

About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

Check Also

An Attractive Speculative Gold Play

An Attractive Speculative Gold Play

By The Gold Report Source: Clive Maund for Streetwise Reports   03/17/2018 Technical analyst Clive Maund charts a gold explorer that he believes has the “potential to take off higher suddenly on positive drill results.” Golden Ridge Resources Ltd. (GLDN:TSX.V) looks like an interesting gold–silver play here for more speculative readers. On its latest 6-month chart […]

Leave a Reply

Your email address will not be published. Required fields are marked *