....I guess some people aren't paying attention.
Today's ECB conference can potentially determine the entire short term trend for the next few days. IF the ECB announces QE, the Euro will immediately sink below 1.22 levels.
If it doesn't announce QE, and tries to hold off intervention, it has a very good chance of stimulating a short term bounce up to 1.2400 levels and potentially beyond.
Why the hell people would make assumptions about prices dropping right now to 1.22/1.20 levels without taking the ECB conference into consideration is beyond me. You DO realize the ECB always has the final say in the euro, right? It's called the European Central Bank for a reason. IT'S IN CHARGE OF MAINTAINING THE EURO.
Patterns? Fib? Indicators? They're all secondary compared to the ECB right now.
Today's ECB conference can potentially determine the entire short term trend for the next few days. IF the ECB announces QE, the Euro will immediately sink below 1.22 levels.
If it doesn't announce QE, and tries to hold off intervention, it has a very good chance of stimulating a short term bounce up to 1.2400 levels and potentially beyond.
Why the hell people would make assumptions about prices dropping right now to 1.22/1.20 levels without taking the ECB conference into consideration is beyond me. You DO realize the ECB always has the final say in the euro, right? It's called the European Central Bank for a reason. IT'S IN CHARGE OF MAINTAINING THE EURO.
Patterns? Fib? Indicators? They're all secondary compared to the ECB right now.