Looking for 800 pip range in EUR/USD after the ECB and the president of the Fed’s decisions — BTMU

BTMU on the big decisions to come this week

For the second consecutive week, BTMU FX Strategy Research is neutral on the EUR/USD around current levels, while allowing a wide range of 1.14-1.22 in the short term to reflect an increased uncertainty ahead of ECB policy announcements, and the Chairman of the Fed to pick up.

«The main event of this week will be the ECB’s much-anticipated policy meeting. The ECB will unveil their plans to taper QE from next year. The expectations of the market in advance of the meeting are to gravitate towards the ECB, the slowdown in the monthly pace of QE purchases EUR20-30 billion dollars and extending the purchases until the end of the month of September of the next year. The ECB is also expected to stress that rates will remain low until well after the end of QE.

We are still waiting for the next announcement of the President Tump on which it will choose to be the next Chairman of the Fed (the exact date has not been confirmed). The announcement could prove to be essential to the U.S. dollar performance points down to the end of the year,» BTMU argues.

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