On Monday after thenight flat on the hour timeframe EURUSD was showing the ascendingcorrection, but till the closing of tradingin Europe the quotes after rising to 1.16382began to descend. Prior to the panel session ofthe European Central Bank traders must have decreased the volumes oftheir short-positions.
The quotes of GBPUSDdecreased from 1.51713 to1.51062. During the Asian session thedecrease reached the 1.50572 level,the total decrease of the pound exceeds 100points.
The day aftertomorrow there will take place another expected event – the sessionof the European Central Bank. Theparticipants of the market hope that the regulator will finallydecide to launch the program on buying stocks in the considerableamounts (from 0.5 to 1 trillion Euro). I doubt if te marketparticipants will open additional short positions till Thursday.Probably the quotes will be gathered near the LB line.
This time I willjust monitor the movement of the pair.
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