FX.co ★ Burning Forecast 03/07/2019

Today is the main event of the week for EURUSD - the ECB decision on monetary policy.

The ECB's decision will be released at 11.45 London time and the press conference of the ECB President Draghi at 12.30 London time

The market expects the ECB to (possibly) offer a new program to inject liquidity into the markets and economies of the eurozone (LTRO program) - as the ECB sees clear signs of slowing growth.

If the ECB does offer such a program to the market, this is a strong change in the situation for finance in the eurozone. This could be a big push and give rise to the euro trend.

We keep selling from 1.1315, our stop at 1.1360.

Selling is possible at a break below 1.1285 - and then sell at a break below 1.1230.

Alternative: buy at a breakthrough of 1.1425 up.