EURUSD Range Bound Ahead of the ECB
2012
The EURUSD is in the spotlight tomorrow morning with ECB rate decision and press conference on deck. The ECB is widely expected to keep rates unchanged. The press conference that follows and Mario Draghi tone is likely to dictate price action. If a dovish sentiment comes across the EURUSD could once again test the bottom of the range at 1.2820. A break of this level would place the cross below the 200 day MVA and could set the tone for a push lower towards the 50 fib at 1.2610.
Sup 1.2820
Res 1.2970/30
Keane Plan...Watching the range for a test of the 1.30 or a break of 1.2820 to short.
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