EURUSD fails to test the 2019-low (1.0926) following the ECB meeting, with the Relative Strength Index (RSI) breaking out of the bearish formation carried over from June.
Euro selling pressure builds as implied volatility measures skyrocket and dovish expectations fester while forex traders anxiously await the high-impact September ECB meeting slated for Thursday.
EURUSD holds the monthly opening range ahead of the ECB meeting, but fresh updates from the Governing Council are likely to alter the near-term outlook for the Euro.
EURUSD extends the decline from the previous week and approaches the monthly-low (1.1027) as the Bundesbank, Germanys central bank, warns of an economic “slump.”
The Federal Reserve interest rate decision may fuel a more meaningful rebound in EURUSD as the central bank is widely expected to alter the path for monetary policy.
EURCHF trades to a fresh yearly-low ahead of the ECB meeting, with recent price action warning of a further decline as the bearish momentum appears to be gathering pace.
Fresh developments coming out of the Euro area may rattle the recent rebound in EURUSD if the ECB shows a greater willingness to implement more non-standard measures.
Fresh data prints coming out of the Euro area may curb the recent decline in EURUSD as German Unemployment is expected to hold flat in June.
Updates to Germanys IFO Business Climate survey may rattle the recent rally in EURUSD as the index is expected to narrow for the third consecutive month in June.
EURUSD struggles to hold its ground ahead of the Fed rate decision as ECB President Mario Draghi endorses a dovish forward-guidance for monetary policy.
The June European Central Bank rate decision and policy meeting will arrive on Thursday, June 6 at 11:45 GMT.
EUR/USD fails to test the May-low (1.1107) ahead of the ECB meeting on June 6, with the exchange rate snapping the series of lower highs and lows from the previous week.
Germanys Gross Domestic Product (GDP) report may spark a bullish reaction in EUR/USD as the updates are anticipated to show a pickup in economic activity.
The April European Central Bank rate decision is on Wednesday, April 10 at 12:45 GMT.
At the March meeting, the Governing Council announced its intention to start a third TLRO program.
Inflation rates in the Eurozones largest economy appear to have stabilized in the near-term.
EUR/USD continues to retrace the sharp selloff following the European Central Bank (ECB) meeting as U.S. data prints point to a slowing a economy.