ING believes the ECB is going to announce his new plan for reducing QE and sharing its expectations.
In its base case scenario, ING expects the ECB to reduce its QE to 25mds of asset purchases per month until the end of 2018, for a total of 300mds.
The bank also believes that the ECB should report expectations of rising inflation gradually.
In this scenario, EUR/USD should go up in the direction of 1.2, according to ING.
A scenario could bring EUR/USD to 1.16, while a more hawkish tone could push the Euro to 1.21.