Draghi leaves the EURO unsupported , ECB policy: 0.05% , deposit rate at -0.20%. !!

draghi
draghi

The European Central Bank announced this noon  at 12:30 GMT in press conference no change in its policy , leaving the  rate at 0.05% and the deposit rate at -0.20%….

At the moment of speaking , the EURUSD spiked to 1.0673 levels and returned quickly below 1.0600 levels . In the nearest future no critical changes are expected from the Euro-Zone , may be in the last quarter of the year , but till that time , the EURO is likely to remain under pressure till US rate hike….

As we said this early morning , as long as 1.0706 resistance holds on a daily closing basis , the pair will remain under pressure with risk for further losses .

Intraday resistance comes at the 1.0636 levels , as a result sell zone comes at the 1.0636/1.0706 levels , stability below this level will keep the pair under heavy pressure , support comes at the 1.0548 levels where a cut will open the area below 1.0500 levels …sustained breakout above the 1.0636 levels will open main resistance at the 1.0706 levels..

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