Not long to go now so here’s some levels to watch
For an in depth preview of todays meeting, read here.
Looking at the charts, here’s a rundonw of the levels.
- 1.1840 55DMA (too close)
- 1.1880 (probably too close to contain any whipsaw moves)
- 1.1950 (55 mma 1.1949)
- 1.2166 50 fib of 2014 drop
- 1.1720/30 (probably too close to the action)
- 1.1689/1.1700 (200 wma 1.1689, again, fairly close to the current price)
- 1.1660/70 (old lows and 100 dma)
- 1.1422 (38.2 fib of Jon 2017 swing up)
The thing to note with the close levels is that although the may not show up right at the start, if we move through them, and then return, they may have more of an influence on the way back.
Finally, a quick warning for the actual announcement to watch for some chop as the algos trade the release. Remember it’s very very unlikely there will be changes to policy, as that’s coming in Dec (though possibly told to us by Draghi today).