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On Tuesday, June 18, the ECB conducted a verbal intervention against the euro: The head of the ECB President Mario Draghi made a statement that the ECB could apply new incentive measures in July - to push the beginning of the rate increase even further or lower the rate for banks on deposits (now minus 0.4% ).
The market, however, reacted very weakly to the statements of the head of the ECB - the decline in the euro was very limited, and the euro is also holding around 1.1200.
Now, the market is waiting for the response of the Fed - today, June 19, the Fed will decide. If the Fed makes it clear that they are ready to lower the rate, the market may turn sharply towards the direction of the growth of the euro.
Thus, the exit from the range can give a start to a long strong trend.
According to technical analysis, it is possible to buy at a breakthrough above 1.1250 - and more conservatively at a breakthrough of 1.1350.
Alternative: You can sell at the break down of the level of 1.1108.
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