EUR/USD & September's ECB Meeting: Is the time for sellers?
Today at 11:45 GMT we'll have the ECB interest rate decision, where it's expected to leave unchanged the rates on the zero level. At 12:30 GMT, Mario Draghi will speak during a press conference and analysts think that he'll stay on its overall tone (dovish), but there are no certainties about what will happen with the QE program. In one scenario, the central bank could expand it and that should be announced during today's meeting, of course, if Draghi wants it.
The technical picture for EUR/USD at H4 chart ahead of ECB meeting is bullish, as the pair gained momentum around the 200 SMA zone, following a rebound that it performed during last week and earlier this week too. A strong resistance is seen at the 1.1254 level, where a breakout should happen to test the 1.1339 level. In the very dovish-scenario, if EUR/USD manages to break the support zone of 1.1141, then the next target would be the 1.1045 price level.