Investors Lock Their Gaze on the ECB Decision

Euro Rallies, Equities Slide Ahead of ECB Rate Decision

The US dollar traded higher against all but one of the other major currencies on Wednesday and during the Asian session Thursday. It gained the most against JPY, CHF, and GBP, while the only currency against which it lost was EUR.

Euro Stoxx 50 — Technical Outlook

The Euro Stoxx 50 cash index traded lower yesterday and today in Asia, but with the price remaining above the prior downside resistance line drawn from the high of January 5th. As long as this is the case, we would see decent chances for that line acting as a support soon, resulting in a rebound.

EUR/USD — Technical Outlook

EUR/USD edged higher on Wednesday, but the advance was stopped near the downside resistance line drawn from the high of February 10th. Overall, the rate remains below that line, but within a sideways range, with the lower end being the 1.0625/50 zone, and the upper bound being the 1.0765/88 territory. With that in mind, we will adopt a flat stance for now.

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