Will ECB Meeting Halt Euro Rally?

Trader appetite for greater risk helped support the Euro this week, but next week could be a different story because of the European Central Bank meeting.

The Euro rose this week but next week’s European Central Bank interest rate decision could pressure the EUR USD if it slashes rates by more than expected. Most investors are looking for a cut to 1.0%. If the interest rate cut doesn’t rattle traders then there is still the possibility that the ECB’s new quantitative easing plan will not be accepted by traders.

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More