EUR/USD: a decline of the euro with Thursday's ECB meeting could offer a long-term buying opportunity (Danske Bank)

Danske Bank believes that a decline of the EUR/USD on the forex due to Thursday's ECB meeting could offer a long-term buying opportunity.

"The EUR/USD barely moved yesterday in a quiet session where the US markets were closed for holidays.

The pair could gain volatility with last-minute positioning prior to Thursday's ECB meeting.

Mario Draghi should mention the pace of the euro's rise, which could help weigh on the EUR/USD in the short term, and with the pair moving around 1.19, there could be room for a rapid drop.

However, we continue to believe that the decline will be short-lived, and will be an opportunity for traders to position themselves for a EUR/USD increase within a period of 6 to 12 months."