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Strategy Video: Can the ECB Drive EURUSD Below 1.2200 Today

Strategy Video: Can the ECB Drive EURUSD Below 1.2200 Today

2014-12-03 23:53:00
John Kicklighter, Chief Strategist
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Talking Points:

EURUSD has paced the Euro into a six-month tumble that has been fed by an ECB stimulus push

• The last ECB meeting of the year is scheduled for today (12:45 GMT)

• A full-press on stimulus with a sizable QE upgrade could extend the tumble, but is it likely?

Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.

Some of the major Euro crosses - including EURUSD and EURGBP - have come up to major, multi-year support levels. That is good timing from the technical side as we are heading into an event risk that can drive the next leg of the bear trend depending on its outcome: the ECB rate decision. However, between the scale of the technical level, the moderation expected in financial markets this time of year and adjustment already made for monetary policy easing in the Eurozone; it is not easy to facilitate the next move lower. In today's Strategy Video, we discuss the scenarios for this event along with the expectations and cues to keep in mind for setting reasonable trades.

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