{"id":64056,"date":"2014-11-21T08:11:16","date_gmt":"2014-11-21T13:11:16","guid":{"rendered":"http:\/\/countingpips.com\/?p=64056"},"modified":"2014-11-21T08:11:16","modified_gmt":"2014-11-21T13:11:16","slug":"eurusd-close-to-the-target-after-draghis-speech","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/11\/eurusd-close-to-the-target-after-draghis-speech\/","title":{"rendered":"EUR\/USD: Close To The Target After Draghi\u2019s Speech"},"content":{"rendered":"<div id=\"inves-2169080799\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 21, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>Analysis by\u00a0<a href=\"http:\/\/growthaces.com\/\" target=\"_blank\">growthaces.com<\/a><\/strong><\/p>\n<p>(stay short, the target is 1.2400)<\/p>\n<ul type=\"disc\">\n<li><strong>European Central Bank President Mario Draghi<\/strong> said there was now no sign of economic improvement in the months ahead. He added: <em>\u201cIf on its current trajectory our policy is not effective enough to achieve this, or further risks to the inflation outlook materialise, <strong>we would step up the pressure and broaden even more the channels through which we intervene, by altering accordingly the size, pace and composition of our purchases.<\/strong>\u201d<\/em> Draghi said <strong>further measures could involve<\/strong><strong>large-scale purchases of government bonds, also known as quantitative easing.<\/strong><\/li>\n<li><strong>The EUR\/USD<\/strong> fell significantly after Draghi\u2019s speech and is <strong>close to the target of our short EUR\/USD position of 1.2400.<\/strong><\/li>\n<li>Let\u2019s take a look at the <strong>economic calendar for the next week<\/strong>. We have <strong>German Ifo index<\/strong><strong>scheduled for Monday<\/strong>. Ifo index has two components: the assessment of current situation the sub-index of expectations. A slight decline in the assessment of current situation could be expected, especially given strongly disappointing German PMI release. We believe that a lot of pessimism has been already been priced in the expectations component of Ifo index. A weaker EUR and lower input prices are likely to improve slightly the expectations component.<\/li>\n<li>Another important release next week is Euro zone <strong>flash November CPI reading on Friday<\/strong>. It is likely to remain unchanged at 0.4% yoy. Continuation of decline in price of oil products generates a downside risk to the forecast. Core inflation is likely to stay at 0.7% yoy, unchanged from the previous month.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" title=\"\" src=\"http:\/\/growthaces.com\/sites\/default\/files\/eurusd_21112014.png\" alt=\"\" width=\"500\" height=\"350\" \/><\/p>\n<p>Significant technical analysis&#8217; levels:<\/p>\n<p>Resistance: 1.2569 (high Nov 21), 1.2589 (30-dma), 1.2601 (high Nov 19)<\/p>\n<p>Support: 1.2398 (low Nov 14), 1.2358 (low Nov 7), 1.2342 (low Aug 21, 2013)<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Analysis by\u00a0<a href=\"http:\/\/growthaces.com\/\" target=\"_blank\">growthaces.com<\/a><\/strong><\/p><div id=\"inves-3759222399\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysis by\u00a0growthaces.com (stay short, the target is 1.2400) European Central Bank President Mario Draghi said there was now no sign of economic improvement in the months ahead. He added: \u201cIf on its current trajectory our policy is not effective enough to achieve this, or further risks to the inflation outlook materialise, we would step up [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-64056","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/64056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=64056"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/64056\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=64056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=64056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=64056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}