{"id":93257,"date":"2016-07-21T06:37:47","date_gmt":"2016-07-21T10:37:47","guid":{"rendered":"http:\/\/countingpips.com\/?p=93257"},"modified":"2016-07-21T06:37:47","modified_gmt":"2016-07-21T10:37:47","slug":"euro-strengthening-before-ecb-meeting","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/07\/euro-strengthening-before-ecb-meeting\/","title":{"rendered":"Euro strengthening before ECB meeting"},"content":{"rendered":"
July 21, 2016<\/div>
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By Gabriel Ojimadu, Alpari<\/b><\/p>\n

Previous:<\/em><\/strong><\/p>\n

The euro”s Wednesday trading closed slightly down. The euro bulls quickly won back losses which were incurred after UK labour market data came out.<\/p>\n

High intraday volatility continued “til trade close in the States. As a result a daily pinbar formed. Although the dark shade of the candle was small, it was a bullish signal. If Draghi doesn”t quash the euro, it will come off today.<\/p>\n

Market Expectations:<\/em><\/strong><\/p>\n

The euro was up to 1.1043 against the dollar in Asia. Since yesterday”s 1.1030 maximum was exceeded, a bull signal was activated in accordance with the pinbar. The target on it is 1.1080.<\/p>

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I didn”t bother with a forecast due to the ECB convening and taking a decision on interest rates. In addition, at 15:30 EET, Mario Draghi will hold a press conference. He is unpredictable, so I don”t see the point in making a forecast.<\/p>\n

Day”s News (EET):<\/em><\/strong><\/p>\n