The euro fell into a “coma”
23.01.2015
The main currency pair continues to fall vigorously on Friday, and there is more and more talk of parity and a cheap euro.
The European Central Bank is still venturing into serious action and in March starts the 2015 QE program in the form in the form that has repeatedly proven its effectiveness. The only thing that has remained unclear is why it was necessary to wait a year and a half?
The QE will start in March to work schemes for exchange and redemption of bonds in the volume of 60 billion euro per month. This is the number that we expected – all in all at least $ 1.1 trillion euro will be spent "for everything." This money can restart the European economy, in which is too much is balancing on the edge.
At the moment for the major currency pairs, which update its minimums of eleven years, only one risk factor remains - elections in Greece on the 25th of January. Siraza is getting stronger, and its victory will almost automatically start the process of withdrawal from the euro zone.
We should still be very cautious with forecasts and estimates. The weakness of the Euro is now playing into the hands of the ECB - in fact with a cheap national unit it is easier to launch an economic recovery. Mario Draghi is resolute and it is his last chance to rehabilitate himself as a monetary politician.
The euro/dollar is now clearly committed to 1.12, and the breakdown of that level will open the road to 1.00.
RoboForex Analytical Department
The European Central Bank is still venturing into serious action and in March starts the 2015 QE program in the form in the form that has repeatedly proven its effectiveness. The only thing that has remained unclear is why it was necessary to wait a year and a half?
The QE will start in March to work schemes for exchange and redemption of bonds in the volume of 60 billion euro per month. This is the number that we expected – all in all at least $ 1.1 trillion euro will be spent "for everything." This money can restart the European economy, in which is too much is balancing on the edge.
At the moment for the major currency pairs, which update its minimums of eleven years, only one risk factor remains - elections in Greece on the 25th of January. Siraza is getting stronger, and its victory will almost automatically start the process of withdrawal from the euro zone.
We should still be very cautious with forecasts and estimates. The weakness of the Euro is now playing into the hands of the ECB - in fact with a cheap national unit it is easier to launch an economic recovery. Mario Draghi is resolute and it is his last chance to rehabilitate himself as a monetary politician.
The euro/dollar is now clearly committed to 1.12, and the breakdown of that level will open the road to 1.00.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.