EUR ECB’s
Draghi’s press conference certainly had a big impact on the market. I admit
that part of me was hoping it would have the opposite effect and the EUR would
bounce back, but apparently that was too much to hope for. It fell so hard that
what we observed was the proverbial “falling knife”. It was both a little scary
and exhilarating to watch. I am pleased though, because despite my hopes that
it’d bounce back, I had the good sense to short right before the press conference.
As for the future – I think the EUR/USD is headed for 1.2700 where there’s a
support level visible on the monthly filter.
lets see next week how the market will start, but mainly it's still bearish
ReplyDeleteWhile the dollar is strengthen we will see the same scenario .
ReplyDeleteEURUSD fell hard during yesterday session as the European Central Bank surprised cutting all three interest rates and announcing a bond buying programme. The market looks as if it is going to continue selling, as the length of the candle is pretty drastic 227 pips the worst fall since the start of the Year. On top of that, we broke below the 1.30 level and the market is going to go to the next significant support level, the 1.28 handle.
ReplyDeleteThe slope is of falling. Let´s wait for next week to confirm the continued fall
ReplyDeleteGreat article, thank you!
ReplyDeleteThere is a good chance that the Euro will keep dropping
ReplyDeleteGood chance, let's wait and see.
ReplyDeleteI think you might be right.
ReplyDelete