The EURUSD is waiting for the ECB and is falling due to expectations - if the ECB again speaks of a new infusion of liquidity into the markets - the euro may break the lower limit of the long range at 1.1230 and start a big downward trend. The ECB meeting tomorrow on Thursday, March 7 - a decision at 11.45 London time, the press conference of the ECB President Draghi at 12.30 London time.
In addition, there are important news on the US economy on Wednesday: the February employment report from ADP at 12.15 London time - and the Fed's report on the state of the economy, the "Beige Book" at 18.00 London time.
We expect the euro to break below 1.1280 and move up to 1.1230.
The alternative is a turn upwards and after reaching 1.1360 - we are preparing to buy at a break of 1.1425.
The material has been provided by InstaForex Company - www.instaforex.com