{"id":109325,"date":"2017-07-20T09:15:32","date_gmt":"2017-07-20T13:15:32","guid":{"rendered":"http:\/\/countingpips.com\/?p=109325"},"modified":"2017-07-20T07:43:13","modified_gmt":"2017-07-20T11:43:13","slug":"eurusd-forex-technical-analysis-expected-ecb-tapering-is-bullish-for-euro","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/eurusd-forex-technical-analysis-expected-ecb-tapering-is-bullish-for-euro\/","title":{"rendered":"EURUSD: Forex Technical Analysis – Expected ECB tapering is bullish for euro"},"content":{"rendered":"
July 20, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Expected ECB tapering is bullish for euro<\/strong><\/p>\n

Expected start of reduction in ECB stimulus measures is bullish for euro. Will the euro<\/a> continue the rise against the greenback?<\/p>\n

Today the European Central Bank meets and the ECB President Mario Draghi is expected to signal the central bank is considering tapering its monthly \u20ac60 billion asset purchase program in coming months as euro-zone economy has improved. Recent inflation report confirmed final June headline inflation below 2% target rate and at initial reading of 1.3%, third monthly decline in a row. Even if the ECB refrains from hinting it prepares to reduce stimulus measures soon, the US dollar has been weakening since Fed chair Yellen\u2019s dovish semi-annual testimony and weak June retail sales and inflation reports. Expectations of reduced stimulus in coming months is bullish for euro.<\/p>\n

\"EURUSD\"<\/p>\n

On the daily timeframe EUR\/USD <\/b> has been trading higher since the start of the year. The price is above the 50-day moving average MA(50) which is rising.<\/p>\n