The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
EUR/USD dependent on ECB meeting
EUR/USD has continued to fall, pushing below support at $1.1514. However, we still need to see a break of $1.1442 to really put a bearish spin on things.
Otherwise the sequence of higher highs remains intact. Today’s European Central Bank (ECB) meeting should produce more volatility here, so traders need to be prepared for this. A push back above $1.1540 would suggest another attempt to hit $1.16 is in the offing.