We get an interest rate decision coming out of the ECB, but more importantly, is the conference afterwards. We also get the ADP Nonfarm Payroll numbers in the United States, and thus it’s likely that we will get a bit of volatility during the day.
EUR/USD
The EUR/USD pair fell a bit during the day on Wednesday, and with the press statement coming out today, it’s likely that we could see more bearish pressure. The 20-day exponential moving average is offering resistance just above, and thus it looks like the put buyers could be involved.
Gold
Gold markets continue to get hit hard as the Wednesday session was negative. However, the $1200 level below is psychologically supportive. However, beyond that level it looks like the real support is somewhere near the $1180 level. The market looks as if it is giving up quite a bit of bullish pressure, so the buyers will more than likely be in control short-term.
DAX
The DAX continues to grind higher, working with the €12,000 level. On a break above the top of the range for the session on Wednesday, call buyers should be encouraged as we have been in a very strong uptrend.
