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EURUSD Technical Analysis October 26th

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Fundamentals:

Today the market players will be focusing on European Central Bank's monetary policy announcement.

Not only is it one of October's most highly anticipated events but according to the CFTC's Commitment of Traders report, speculative positioning is heavily skewed to the downside. Between the amount of bonds they plan to buy per month to the duration of the program and their forward guidance, there is no shortage of ways for Mario Draghi to placate the doves and the hawks. We know that the central bank's preference is to remove stimulus slowly in a way that emphasizes their accommodative monetary policy stance. They want to taper without giving investors a reason to bring forward the timing of the first rate hike and that won't be easy. There are different scenarios but most likely scenarios are:

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This article was written by Emre Tutucu for http://www.fxters.com/eurusd-technical-analysis-october-26th/ on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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