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Business / Finance

EUR/USD: Trading recommendations

MQL5: Blogs Traders 24.01.2019 at 12:15

Blogs traders and analyst of financial markets

Traders ' focus today is the ECB meeting and its decision on interest rates and QE program. The ECB's decision on interest rates will be published at 12:45 (GMT) and press conference, the ECB will begin at 13:30. Probably, the ECB will maintain today current key interest rates unchanged. The main interest rate will remain unchanged at 0%; the ECB rate on deposits for commercial banks is also likely to remain unchanged at the level of -0,4%. If the ECB President Mario Draghi once again will signal the continuation or extension of the QE program, the EUR / USD will fall even more.

Immediate objectives are reduction the levels of support 1.1300, 1.1285 (the level of Fibonacci 23.6% retracement of the decline from the level of 1.3900, which began in may 2014), 1.1270 (low Dec), 1.1215 (lows from November and onwards). Negative dynamics prevails.