EUR/USD Update

EUR/USD is consolidating in a triangle for the last 3 weeks. The price is facing strong resistance from H4 200 SMA and it prevented four attempt to break above this level. Future move of Euro could decide by today’s ECB meeting. 

Support: 1.1770 1.1720 1.1690.

Resistance: 1.1835 1.1860 1.1900.

ECB Scenario Analysis [Source: www.fxstreet.com]

Scenario #1 (Most Likely)

Cut monthly bond buys by 30B and commit to buying bonds to September 2018. - Depends on Guidance.

Scenario #2 (Likely)

Cut monthly bond buys by 30B and commit to buying bonds to June 2018. - Mildly Positive EURUSD.

Scenario#3 (Possible)

Cut monthly bond buys by 20B and commit to buying bonds to June 2018. - Negative EURUSD.

Scenario #4 (Unlikely)

Cut monthly bond buys by 40B and commit to buying bonds to Sept 2018. - Positive EURUSD.