Lagarde’s Attitude Turns Dovish Again, EURUSD Teeters
President of ECB Said Monetary Policy In Eurozone Doesn’t Need To Tightened For Now In Parliament
Investors are suggested to consider marginal Short at market price, Target 1.1400, Stop-Loss by 1.4370.
A few days ago, European Central Bank(ECB) President, C.Lagarde, said in parliament that since inflation may not last long and is expected to remain near the standard value of 2%, the monetary policy of the Eurozone is not required to be significantly tightened at present. Any decision will be made gradually and will not be conducted impatiently. This outcome has eased the market’s concerns about the ECB’s active interest rate hike, which temporarily held a negative impact on the Euro. Overall, the probability of a short-term vacillation and downward trend in EURUSD is evidenced.
In 60Mins range, (5,10,20)Tri-MAs gradually tangle. MACD gradually reduced with it’s longing momentum. KD death-crossed under 80. To sum up, EURUSD withstands the pressure to depreciate. In consequence, would recommend Investors to High-Throw Bargain-Hunt towards Short position for operation(s).
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