ECB Monetary Policy Decisions

ECB Monetary Policy Decisions

From ecb.int

At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.75%, 1.50% and 0.00% respectively. The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.

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Dec 6, 2012 7:32am

Is looking good. A bit early yet to call the top as 'held', imho, but when it does then 1.28 at least looks definite.

eqshack

Dec 6, 2012 7:10am

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im with you.EU is messed up! there is no real reasons why it should go higher... + triple top usually works

moaf

Dec 6, 2012 7:03am

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bo ?

I am just fan of searching for turning points. I think we have all conditions. First date (new month), second technics (triple top), third fundamentals (lol). Of course it's hard to predict it now, but I think this is it.

moaf

Dec 6, 2012 7:37am

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agree. what I see that now market is selling without a reason, last two weeks it was buying. as you said, we need a confirmation.

shovon

Dec 6, 2012 7:17am

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You are right, but it still in the stage of mild sign, and so couldn't be so sure. Just yesterday, it shows the first sign in H1, but yet to make it clear on H4.

Euro is clearly messed up. I also notice the triple top, also 1.3115 has weekly pivot 2nd resistance, which is really hard to break and stay above on it. So, I'm expecting clear bearing momentum in coming days.

...but time will give the exact answer, definitely.....happy trading

shovon

Dec 6, 2012 7:36am

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My initial target is 2948 and max is 2900.... and if PA manage to break below 2890, it will go further below up to 2800 as you said...

Trader8990

Dec 6, 2012 7:44am

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Yup, expecting 1.29 area after failed in 1.31

Exodus

Dec 6, 2012 7:59am

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Euro down 50 pips in 30 minutes. Should have known Draghi would talk it down.....

Danutz

Dec 6, 2012 7:01am

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i expect 1.3120 and after 1.3240 (maybe tomorrow)

moaf

Dec 6, 2012 6:53am

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Price action shows bearish bias. I am almost sure about triple top formation on daily basis. Expect 1.25 next. What do you think ?

moaf

Dec 6, 2012 7:09am

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stay cool, I am not going to bet my village house ...

Dec 6, 2012 7:38am

today go till 1.3030

Dec 6, 2012 7:54am

love to be right (even it's not so often

Dec 6, 2012 7:56am

gotta be 1.30 tp

Dec 6, 2012 6:58am

or u can wait for a bo

IberoForex

Dec 6, 2012 6:49am

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Yes they need to cut, but the sentiment towards the euro is too negative to do so now!

IberoForex

Dec 6, 2012 7:04am

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Need to go to 1.3032, then 1.3170 to follow. This is what I think ...
But beware'm still learning!

Trader8990

Dec 6, 2012 8:05am

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Gold in contrary, after successfully holded 169x area yesterday closing, will it able to break 170x today?

cubiday

Dec 6, 2012 7:30am

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I think so, bearish bias on EUR/USD, but I expect only 1.28.

palinco

Dec 6, 2012 7:49am

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I think you are right, we are going to see some downing for eu.

skyboys007

Dec 6, 2012 7:15am

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I am watching the action of every general trader.Cause market in most time turn in U shape what general trader think.Lets see what happen after ECB.

Trader#2E73

Dec 6, 2012 7:32am

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A Daily triple top YES. IMHO weak or retail stop losses will sit from 1.3130 up to 1.3175 perhaps even 1.3200 so I will be very surprised if the price does not take out those stops first being the line of least resistance and therefor profit prior to falling.