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Written by Imran Allana
Forex Analysis - 6th January 2015
EURUSD technical analysis
EUR/USD opened the Asian trading session at 1.1932 after recovering from 1.1887 overnight as long-dated treasury yields fell sharply and as USD/JPY led USD broadly lower. Dipping to 1.1927 early, it grinded higher still to 1.1955 with the move higher in AUD/USD keeping the USD on the defensive. Sentiment remains decidedly bearish however, with uncertainties surrounding the Greek election on January 25th and ECB policy on January 22nd.
United Kingdom & Euro Zone
Sunday 1st February 2015
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Written by easy-forex team
Weekly Outlook - 26th January 2015
The long-awaited Quantitative Easing (QE) program was finally introduced by the European Central Bank (ECB) after several weeks of speculations by the markets. Were you one of those traders who preached for calm and forecasted minimal impact on the markets? Actually it was proven that impact was rather strong as the EUR/USD slid by 3.6%.
The ECB announced a €1.1 trillion QE package, through which the Bank will be purchasing €60 billion of private and public securities per month, starting in March, and intended to go on until September 2016. However, the plan remains open ended and might continue beyond its expiry date in case there is need for additional monetary stimulus in order to help Eurozone’s worrying inflation levels. Because of the widespread anticipation on that subject for the past few weeks, one would probably assume that the eventual announcement of the QE program last Thursday would not take the markets by surprise as the information would have been already priced in. But instead the euro slid considerably against both the U.S. dollar and British pound following the presentation by ECB President Mario Draghi.
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