18.07.201701:53 Forex Analysis & Reviews: It is unlikely that the ECB will change its attitude towards monetary policy

While the market is quite calm situation against the background of today lack important fundamental statistics, many leading economists speculate on whether there is enough experience of the ECB in the rhetoric regarding the collapse of incentive measures, and whether this is the autumn of this year the regulator will.

While the market is calm enough against the background of the absence of important fundamental statistics today, many leading economists are speculating whether the

ECB has enough rhetorical experience regarding the unwinding of incentive measures and whether the regulator will do so in the fall of this year.

Of course, it is unlikely that the ECB will announce the premature exit from the bond buying program this week, while the inflation rate has not closely approached its target level of around 2.0%.

The pace of economic growth in the eurozone is also still far from ideal, which binds the hands of the European Central Bank in the short term.

Some economists believe that the European regulator does not have a clear answer to the question of when the quantitative easing program will be phased out.

But it is unlikely that ECB President Mario Draghi will rush with such early statements.

From today's data, which was released during the first half of the day, it can be noted that the EU statistical agency Eurostat did not revise the annual inflation estimate, which in June was 1.3% in the eurozone.

In general, the technical picture in the EURUSD pair in the medium term still indicates growth and breakthrough of the technical resistance levels, which are now located in the range 1.1480-1.1500, will lead to the demolition of a number of stop orders of sellers, which will push the trading instrument to new monthly highs around 1.1530, 1.1560 and 1.1600. On the other hand, another setback at current levels can force buyers to lock in profits. Such a scenario will lead to a deeper downward correction of the trading instrument in the regions 1.1375, 1.1320, and 1.1180.