EUR/USD Falling Ahead Of The ECB – Buy Opportunity

Apr 20, 2016 at 3:02 PM EDT

Perhaps traders are afraid of helicopter hints or perhaps it’s profit taking on previous gains. In any case, EUR/USD is now sliding to 1.13, back under the 1.1335 that worked as a separator of ranges.

In the past meetings, we have seen the anticipation for some ECB action result in a weaker euro, but eventually this was followed up by a surge of the common currency. Even when Draghi delivered in March, and he certainly beat market expectations in terms of the size of the stimulus package, the talk about not doing more served as a trigger for a shot up in the pair.

Will recent history repeat itself? Or have the tables turned against the euro?

(Click on image to enlarge)

EURUSD falling April 20 2016

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