FXStreet (Łódź) - Independent Analyst Vladimir Mihaylov, suggests that heading towards the end of the month the EUR is generating some artificial volatility, ahead of the ECB meeting on Thursday next week.
"Everybody is now waiting for the end of the month and the next ECB meeting to see whether Mr.Draghi will implement further stimulus."
"We remain in an ascending channel despite yesterday's spike to the H4 Senkou Span B price of the positive H4 cloud. Of course it was too early to break it lower and the price quickly reversed, but I think big players have hit some new stops and bought EUR at a better price."
"Currently the EUR is blocked below the H4 SMA200 price but as soon as it is broken, our first target will be the resistance area 1.3650-1.3665."
"Pretty wide and pretty strong one, that will be extremely hard to break, however some spikes to 1.3670-75 are possible, but i think that the price will remain below 1.3665 till Monday."