ECB: The mood inside, the bank's plans and what's next for the EUR

European Central Bankers still do not rule out the possibility of extending the QE program after meeting in June. According to a large number of traders, the moods in the central bank are 50 to 50. The facts are there - the European economy is developing well and is in a strong phase of growth, but central bankers will retain the possibility of a further increase or extension of QE. What worries some of them is Italy. There is already a Eurosceptic coalition in power, which is expected to drastically increase the country's debt, which has been over the country's GDP for years. What we know for sure is that Mario Draghi certainly will not work abruptly - QE will shrink smoothly.

Here is how

Where is the EURO Index and what to expect

Estimated EUR demanded a decrease or at least a slowdown in the upward trend. The EURO Index managed to move below the average of the average, but is currently in a key area of ​​support, formed by a horizontal and 38.2% Fibonacci adjustment. As the ECB's meeting remains less than 20 days, I expect the price to consolidate around the current levels that will be key. If the ECB decides to ignore the problems in Italy and lower QE, then we will certainly see a rebound from the current levels upwards. Otherwise, however, a breakthrough of Fibonacci's 38.2% Fibonacci correction will end the upward trend, and 50% will be reached in few hours, and it will not be of great importance.

Source: Bloomberg Pro Terminal

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