The euro broke below 1.0850


The euro broke below 1.0850

The euro remains weak: the pair EUR/USD weakened to the September 2003 lows after the European Central Bank March meeting.

The ECB finished another meeting and left interest rates at the record low of 0.05% on the annual basis, keeping the monetary policy main parameters unchanged. But the devil is in the details: the ECB governor Mario Draghi said after the meeting that if necessary the bond redemption within the incentive program framework can be continued after September 2016.

Trading recommendations

It is now recommended to short with the first target of 1.0780-1.0800. If this target is overcome, the shorts will be relevant to the target of 1.0580-1.0600.


The euro broke below 1.0850

The Bank of England Monetary Policy Committee decided to keep its key interest rate unchanged after the meeting. The Central Bank key rate remained at the level of 0.5% as the asset repurchase program size is still remaining 375 billion pounds. The pound did not react to the decision as the market waited for the Mario Draghi press conference.

The European Central Bank left interest rates unchanged. There was no reaction to this solution at the market. During the press conference volatility increased within all major pairs.

Trading recommendations

We advise to short with the target of 1.4980-1.5000. The second target is the level of 1.4880-1.4900.


The euro broke below 1.0850

The pair dollar/yen will consolidate with a tendency to increase after it reached the 3-week high of 120.40 on Thursday.

The pair gets support from the US dollar large-scale growth. The pair is also supported by the yen decrease as a safe haven amid the global investors improving relations towards risks.

Trading recommendations

It is now recommended to buy with the first target of 121.00-121.20. Shall the pair overcome the first target it may direct to the level of 121.50-121.70.


Ruban Sergey
Analyst of «FreshForex» company
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