Keep watch for ECB President’s address today (Tuesday) at 1pm, GMT. There are opinions that the president might prepare the market for a boost to the ECB’s bond buying programme later this month. A dovish sentiment from the president could pull back the EUR/USD pair to the September lows of $1.1610….a situation that the bulls certainly would not welcome after a recovery in October (it is now trading at fresh two week highs) following Sept’s declines.
Below are some views from analysts from Citi, via Forex Live:
A number of negative risk events near term, which restrained the EUR
EURUSD held good resistance between 1.1780 and 1.1790 (Trend lines and 55-day MA)