ECB meeting and Draghi’s speech draw the mid-long term route for EURO.
ECB will reduce its purchases to € 30 billion starting in January 2018 within the market expectation
Although this decision was meeting with the market’s expectation, an open door to possibility of extension of the purchases may put Euro under pressure more than expected.
On the Daily chart, we see a Cup with Handle formation. EURGBP closed the week below EMA50 and EMA 100. Critical support is 0.87500.
With the break out of 0.87500, next target will be 0.8690 and 0.8472.
ECB will reduce its purchases to € 30 billion starting in January 2018 within the market expectation
Although this decision was meeting with the market’s expectation, an open door to possibility of extension of the purchases may put Euro under pressure more than expected.
On the Daily chart, we see a Cup with Handle formation. EURGBP closed the week below EMA50 and EMA 100. Critical support is 0.87500.
With the break out of 0.87500, next target will be 0.8690 and 0.8472.
