FX.co ★ Trading plan for EUR / USD as of April 26, 2018

Today, the market is waiting for the outcome of the ECB meeting on monetary policy. At the end of last week, a number of mass media spread the news that the ECB intends to extend the program of quantitative easing, which was the reason for the rapid strengthening of the dollar. If Mario Draghi confirms these rumors today, then the single European currency is unlikely to go further down. This scenario is already embedded in the price. However, we should not forget that rumors have a property not to be confirmed so that from the head of the ECB we can hear something else. Most likely, he once again announced the possibility of extending the program of quantitative easing, if the economic situation will require it. At the same time, he will clearly add about sustained economic growth and the continuing decline in unemployment, hinting that the program will not be extended. This will be an occasion not only for the growth of the single European currency but for the general weakening of the dollar.

The euro / dollar currency pair reached the lower limit of the range support level of 1.2160 (1.2160 / 1.2210), where it felt the support and slowed down the movement. It is possible to assume movement within the given range, wherein the case of fixation above 1.2210 it is possible to consider the course of 1.22270 / 1.2300.