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Masoud : Midweek EUR/USD Review 2 Nov 11

Hello koala king and folks.
Good day to you.
Mario Draghi on Tuesday begins his work as chairman of the European Central Bank ECB. Mr Trichet for the first four years of his career had a peaceful tenure and in the next four years, was involved in the storm of the debt crisis. The new chairman will begin work in a crisis situation. Will the policy of the ECB change? Mr Trichet said: “We want to maintain their credibility, because the actions and policies on interest rates continue. We can not and will not replace the government. “
A stock market expert said: “We expect more or less that in the central bank’s next meeting in Europe, similar policies should be adopted. However interest rates may be cut from 1.5% to 1.25%.” It is also expected that the ECB will continue to buy bonds of Euro Zone countries to prevent the rise in bond prices.
The Greek government’s decision to hold a referendum on the acceptance or rejection of the new financial aid package caused the decline of stocks in the stock markets of Europe and the world. One economist said: “If the people of Greece in the referendum votes no for the Greek rescue plan, this means leaving the euro zone. “
From a technical perspective: 
The most important economic news will be released tomorrow and Friday and it will probably determine the main trend of the EUR/USD. The currency pair is now in a complicated situation and the best decision for the remaining two days is probably to stay away from trading and just watch the charts.
Have a nice time.
Masoud is a businessman and a Senior Forex Koala. Connect with him at our page on Facebook

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