The Euro took a break and right now is attacking again. Overview for 26.01.2018

The main currency pair had a very volatile trading session on Thursday, but bulls seem to have enough strengths left.

On Friday morning, the EUR/USD pair is trading upwards. It seems that investors took a good rest at night after yesterday’s fluctuations and are ready to push the price upwards. The current quote for the instrument is 1.2466.

So, another meeting of the European Central Bank was over with expected results. The key rate remained at 0%, the deposit rate at 0.40%. However, the most interesting part was the press conference of Mario Draghi, the regulator’s president.  

In the comments, Draghi emphasized that the ECB wasn’t going to deal with the currency targeting, although the regulator considered stable currency exchange rate to be a very important thing. When it came to the QE program, Draghi said that it would continue until September this year in the monthly amount of 30 billion Euros. Moreover, the regulator would be ready to extend the program if the economy required.

Overall, Draghi’s speech was pretty positive and confident. It appears that the ECB doesn’t worry a lot about the rally in the main currency pair, because it did nothing to cool down bulls.

Right now, after monetary authorities made their announcements, the Euro may continue the uptrend, which paused last night.

RoboForex Analytical Department