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  • Draghi: We continue to expect interest rates to remain at their present levels for an extended period of time

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"We stand ready to increase the asset purchase programme in size and/or duration" its highly dovish comment from ECB.
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Might be but he did not mention based on what, this does not necessarily mean Euro appreciation!
Quoting sunpied
"We stand ready to increase the asset purchase programme in size and/or duration" its highly dovish comment from ECB.

But mkt not act like that,its just opposite Move.
yet eurusd rising.
sell euro at Questions
Trump arrived at WEF
rising eurousd is a trap i think
Quoting XuMar
sell euro at Questions
bad idea friend
here the question volatility euro from bloomberg's journalist
will eurusd goes more up? any target?
Quoting sunpied
"We stand ready to increase the asset purchase programme in size and/or duration" its highly dovish comment from ECB.
but no body concerns it seems :|
There is no randomness. It is just Chaos, a higher form of order.
actually his answers so dovish
Quoting mohsin880
will eurusd goes more up? any target?
Given what have been said, I doubt EURUSD will survive 1.25 - 1.26 resistance zone. Right now is stop hunting those parked stop behind 1.25 (which is a critical resistance level). After those stops are taken out, the market maker will exit the market. Until then, they will continue to push and push and push until a big boy come in to sell and spoil the "party".
Quoting sunpied
rising eurousd is a trap i think
It broke up from consolidation a couple of days ago, it's moving well, pips banked, more pending or fail at +150pips - where's the trap in that?
Trade what you see. simple.
Don't ask me, I have no idea what's going on.
Physiology level on 1.25, it had breach it
Put your pending sell order at 1.25, 1.26 and 1.27. If you have more resources than place pending sell order at 1.25, 1.255, 1.26, 1.265, 1.27, 1.275. Switch off your computer and go to sleep. Check price again next week or so. (Take it at your own risk.)
That we call stability. He is the one who makes the market crazy. What a blame.
Quoting Pipfull
{quote} but no body concerns it seems :|
Nothing new about what he said.
Quoting Hareii
Put your pending sell order at 1.25, 1.26 and 1.27. If you have more resources than place pending sell order at 1.25, 1.255, 1.26, 1.265, 1.27, 1.275. Switch off your computer and go to sleep. Check price again next week or so. (Take it at your own risk.)

Sounds like a plan and a decline through 1.2325 and 1.2250 is needed to confirm a broader correction, nobody in their right mind will chase price--off for some java beans the Disney Channel is more interesting.
They wanna push you off the path with their frequency wires
Quoting XuMar
actually his answers so dovish

Now Euro is a High Voltage current........
Quoting Quantum3
{quote} Sounds like a plan and a decline through 1.2325 and 1.2250 is needed to confirm a broader correction, nobody in their right mind will chase price--off for some java beans the Disney Channel is more interesting.
1.23 and 1.22 is too "far" away. I am looking at below 1.25. Where to take profit is up to each individual's greed and risk tolerance. I guess before 1.23, it will retrace upward again before going sideway. 1.23 and 1.25-26 range may hold for a while (range trade). Just speculating.
Fk... it take out my stoploss and go back again
I remember when Draghi used to open his mouth the EURO would fall like a stone.... Now when he opens his mouth is shoots up.
I liked his not-so-subtle dig at Mnucs!
"I don't run my mouth off on exchange rates, unlike a certain piss-weasel." - Mario Draghi, 2018 (paraphrased)
Draghi wants to say that I am committed to agreement and will not say that expensive eurusd is bad for economy. And US administration should not say that cheap usd is good for economy )
Quoting Josh657
I remember when Draghi used to open his mouth the EURO would fall like a stone.... Now when he opens his mouth is shoots up.

Don't worry it will happen now ,Euro Flip back, u turn.
Hawkish - see you EURUSD at 1.27xx
Quoting Hareii
{quote} 1.23 and 1.22 is too "far" away. I am looking at below 1.25. Where to take profit is up to each individual's greed and risk tolerance. I guess before 1.23, it will retrace upward again before going sideway. 1.23 and 1.25-26 range may hold for a while (range trade). Just speculating.

From a short-term perspective 'intraday', I see resistance, pivot point and Fibonacci 161.8 @ 1.2500 'a confluence of events', as the price is flirting within this zone--totally agree. Regarding the 1.23/1.22 is just my trading style or/and the way I analyze the market overall so don't mind me ;-)
They wanna push you off the path with their frequency wires
Quoting asmadi78
Hawkish - see you EURUSD at 1.27xx
Maybe, but that will be interesting. Who will risk another few billions to buy EUR and sell USD when Mario already said they are still not convinced of the inflation figure moving towards their target and current EUR strength ALREADY quite sure will set back the inflation figure by some amount. His verbal intervention is quite mild today, but I guess his other counterparts on the committee are not so mild as him in the coming days. When SNB and BOJ start to "intervene", EUR will move with it accordingly. I don't know whether they have backdoor agreement, ECB always seem to "outsource" the job of "intervention" to SNB and BOJ. Lol.
USD has been weak today. Look at the daily charts for each of the majors. That is part of the reason for EURUSD's rise.

The key thing Draghi then said was "Incoming information confirms strengthening of economy that has been broadening" The major institutions saw that as a good indication to increase their long term investments in the EU. What do overseas institutions have to do to buy European equities for example? Answer = buy Euros. Another reason for EURUSD's rise.

Then we have the Day Trader's at the major institutions. They know how the long term investors will react so they buy EURUSD and hold it for a nice profit. This is yet another reason for EURUSD's rise. However when they close their positions they are looking for a good technical exit level so they close around 1.25. But when they close their positions they are in effect selling EURUSD which accounts for the spike around 1.25.

PS See also http://www.bloomberg.com/news/articl...r-markets-wrap
Hmm ... my call is the movement of the EUR is correlated to the Euro Bond Yield and not the equity market. I have not taken a close look at the correlation between EUR and Euro equity market, but for the US side, the correlation is not very clear. At times, it is tightly correlated, at other times, it is opposite (like right now).
usd index - major support already broken at weekly chart 89.97
next support USD index at 87.67
Quoting Hareii
Hmm ... my call is the movement of the EUR is correlated to the Euro Bond Yield and not the equity market. I have not taken a close look at the correlation between EUR and Euro equity market, but for the US side, the correlation is not very clear. At times, it is tightly correlated, at other times, it is opposite (like right now).
I did say "European equities for example" not only European equities. The same applies to European Bonds. The point is that they want to invest in the EU markets long term. When they come to sell these investments they expect to make a nice profit.

AND when overseas institutions sell their investments they will get paid in EURO's. Because they expect the EURO to have risen over the long term they are expecting to make yet another nice profit when they convert these EURO's back into another currency (eg USD, JPY etc).
Quoting asmadi78
Hawkish - see you EURUSD at 1.27xx

Euro longs remained extended, but gross shorts climbed $3.1bn w/w; aside from that, the exchange rate was mentioned twice in the introductory statement as a source of uncertainty that requires monitoring, a sentence that has NOT been used since September 2017 and inflation remained subdued, hence he stated we look into INFLATION.

So let me know when you get to 1.27 to place my limit order
They wanna push you off the path with their frequency wires
Quoting Quantum3
{quote} Euro longs remained extended, but gross shorts climbed $3.1bn w/w; aside from that, the exchange rate was mentioned twice in the introductory statement as a source of uncertainty that requires monitoring, a sentence that has NOT been used since September 2017 and inflation remained subdued, hence he stated we look into INFLATION. So let me know when you get to 1.27 to place my limit order
The historical significance doesn't hold much weight right now, to be honest. USD weakness is the driver even if the EUR weakens.

With that said, I do expect a sudden drop to try to make us retail bulls feel shaky, though. If Mueller interviews Trump it might start to drop if smart money truly views Trump as the primary liability for the USD, or at least that might be what they want us to think. Damn chess games.
Quoting Dr.Wut
{quote} The historical significance doesn't hold much weight right now, to be honest. USD weakness is the driver even if the EUR weakens. With that said, I do expect a sudden drop to try to make us retail bulls feel shaky, though. If Mueller interviews Trump it might start to drop if smart money truly views Trump as the primary liability for the USD, or at least that might be what they want us to think. Damn chess games.

Well, not saying that the EUR is going to fall out of bed with my statement but I think it will not skyrocket to the moon just after Draghi's phenomenal speech; taking into account the squaring of 3.1 BN shorts position by institutional which at some point should reflect on my charts.

USD weak? sure mostly against every pair, index falling to a new three-year low although already looking exhausted and with market pricing most of the Fed's dot-plot, PMI, ISM, GDP strong in the USA and Trump pushing his protectionism agenda, and that's one of the reasons why Meuller is talking down the dollar.

Thirdly, the so-called 'strong USD policy' only came into being in 1995. Before that, there was no such thing. Following the Plaza Accord in September 1985 in which the governments of France, West Germany, Japan, the US and the UK agreed to weaken the USD, the US had a weak USD policy for the next decade. The transition only came into effect from Secretary Bentsen to Secretary Rubin in early 1995.

I think we can write a blog about this but is not my style so you're right is a chess game...just before Draghi spoke Mueller crash the party. ;-)
They wanna push you off the path with their frequency wires
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