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EUR/USD Forecast 04 Dec 2014

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EUR/USD Chart 04 Dec 2014
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EUR/USD gearing for its next move as the ECB leaves interest rates unchanged

The European Central Bank has just announced that it is leaving interest rates unchanged and traders are looking forward to the press conference by the President Mario Draghi who will unveil the next course of rates going forward and clarify the stance of the bank towards any further bond buying.

The Euro currency has been consolidating its losses throughout the Asian and European trading session so far. The European Central Bank has left rates unchanged and Mario Draghi will take the helm and push the EUR/USD pair into its next direction in about 20 minutes.

Before such a risky event we advise binary options traders to look carefully at the opportunities presented for them and pick the direction where the market goes to. It all depends on what Mr Draghi says now so don't fight the ECB, just let the words of its president guide the market and follow it.

We at Binary Options Post hold no illusions that most of you have listened an ECB press conference before, this is why we will advise you to use the price to guide your decisions. A strong break above 1.2340 would mean that there will be no immediate quantitative easing on the cards and buying daily calls is recommended.

On the other hand if we see a decisive break below 1.2290 this means that the central bank has once again surprised the markets and we are will witness another leg of Euro selling which will lead the EUR/USD pair towards 1.2200 and possible even lower.

In both cases, try not to risk too much, because this will be a very violent trading environment and anything is possible after all. The expiration rates for the options should be daily, which means sometime after 20:00 GMT (included).

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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