EUR/USD: Sell the rallies to 1.1480 ahead of ECB? - TDS

Dhwani Mehta FXStreet

The Research Team at TD Securities (TDS) offers its outlook on the EUR/USD heading into today's ECB October monetary policy meeting due at 1145 GMT.

Key Quotes:

"We expect the ECB to leave policy on hold, and to provide no new information regarding the conclusion of QE later this year. While risks are likely to remain balanced, we expect a somewhat downbeat tone to the press conference, as Draghi acknowledges that downside risks have somewhat intensified.

"Dovish risks appear to be well reflected in EURUSD with key support emerging at 1.13. Appetite to push below should be low ahead of US mid-terms though balanced ECB risks may offer modest relief to EURUSD...

Some relief in EURUSD on balanced risks towards 1.1480, but capped ahead of 1.1510 short-term trend resistance."

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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