Ahead of tomorrow’s ECB meeting, where markets expect QE to be announced, Michael Hewson asks whether the euro is seeing trend exhaustion and could see a significant bounce if Draghi disappoints.
- The gold market is testing $1,300 as a loss of confidence in central banks and a potential triangle breakout targets $1,330
- EUR/GBP seems to have found a base and may squeeze higher towards trendline resistance if it remains above its lows
- EUR/JPY is looking to confirm a ‘Three White Soldiers’ candlestick pattern, with significant support at ¥135, which could point to a sharp short squeeze
Spread Betting & CFD trading carry a high level of risk to your capital and you can lose more than your initial deposit. Only speculate with money that you can afford to lose. These trading products may not be suitable for all investors so seek independent advice.Video content by Michael Hewson of CMC Markets.