We see a bear risk set up into the ECB for EURUSD
Thursday sees the next ECB meeting and announcement with many commentators looking for further easing. The Governing Council has discussed easing at the latest ECB meetings and it can be argued that the market is looking for maybe a small refinancing rate cut or another LTRO (Long Term Financing Operation). Whatever the decision, the impact is likely to be felt by the EURUSD spot forex rate. From a technical standpoint, EURUSD is poised, but with growing risk of a more bearish shift.