empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

08.09.201610:41 Forex Analysis & Reviews: Global macro overview for 08/09/2016

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Global macro overview for 08/09/2016:

Main macroeconomic events of the week, the ECB interest rate decision and ECB press conference, are scheduled for release at 13:45 GMT today. The market participants expect the ECB to leave the interest rate unchanged at the level of 0.00%. No new action is expected from the EBC this month, but its current situation is not a very pleasant one. Inflation and economic growth are clearly not accelerating higher, especially after Brexit. Moreover, the biggest problem seems to be in the limits of assets the ECB can purchase under the rules of the quantitative easing program. Any change to QE will likely require the approval of Germany, which is hardly to come easy. In conclusion, a very interesting event will happen today and traders and investors from all over the word will keep an eye on the ECB decision and Mario Draghi press conference afterward.

Let us now take a look at the EUR/USD technical picture on the 4H time frame. Bulls have managed to break out higher above the technical resistance at the level of 1.1241 and it looks like they are trying to test the golden trend line again from the downside. Any breakout higher will be considered even more bullish with a target at the level of 1.1428.

Exchange Rates 08.09.2016 analysis

Sebastian Seliga
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off