The European Central Bank agreed today to start on a quantitative easing (QE) programme that will see it print money to buy up 60 billion euros worth of sovereign bonds from March 2015 until the end of September 2016.
Countries under a bailout programme, such as Greece, will be included but with some additional criteria.
Anyway ; to make such move , the ECB may have to buy (withdraw) a large amount of gold from the market , as a result ; demand may increase on gold and XAUUSD may continue flying !!!
Conclusion : Draghi has protected the EURO form a big collapse , limited losses could be seen or sideways market in the upcoming weeks ..even still early a bit to talk about that , but we need to keep an eye on EURUSD pair, any sign of reversal could bring a strong rebound !!!
Update : Friday Jan 23 2015 2:00 AM GMT …
EURUSD continued falling and bottomed at the 1.1315 levels , the pair is so close from our yearly target at the 1.1000 levels , there’s a high chance to continue falling to that point before bottoming and make a strong rebound , for more details read our yearly forecast : EURUSD 2015 Forecasts