In June ECB (European Central Bank) announced a new QE program.
As a result EURUSD started falling on rumors.
On 12 September rumors became a fact.
As a result profit taking action is expected.
It should drive EUR higher. At least in short-term.
Only new rumors about fresh QE measures by ECB will drive EUR lower.
This is a fine example of key trading strategy named "Buy on rumors — sell on the fact".
In terms of fundamental analysis a policy of Central Bank is a key factor that affects the currency.
Economic data, political news and so on are secondary factors.
As a result EURUSD started falling on rumors.
On 12 September rumors became a fact.
As a result profit taking action is expected.
It should drive EUR higher. At least in short-term.
Only new rumors about fresh QE measures by ECB will drive EUR lower.
This is a fine example of key trading strategy named "Buy on rumors — sell on the fact".
In terms of fundamental analysis a policy of Central Bank is a key factor that affects the currency.
Economic data, political news and so on are secondary factors.