The FOCM will begin Wednesday evening to make the market and investors understand the next moves for the short and medium term and the ECB will follow the next day. It is very likely that the euro will come out even more devalued at the end of these two days. As the European Central Bank will almost certainly show a weak economic and political scenario in the eurozone. Talking about new money injections and further postponements of a rate hike; while the FED should ensure another rate cut within the year, but then continue with its restrictive economic policy.
Because an important movement on Eur/Usd we open another long position from here to close by Wednesday evening to then close all the bullish positions and reposition ourselves short. The target is the 1.119 resistance.
Follow us in TradingView