EUR ECB’s Mario
Draghi’s press conference will be held
later today. The EUR has been descending rapidly for months now and the events
in Ukraine
seemed to have an even more detrimental effect on the situation. For a while
now it seemed like nothing could stop its descent, there was no support it
couldn’t break below.We will have to wait and see how Draghi’s press conference
will affect the market – whether the EUR will bounce back at least
temporarily, or will this cause it to descend even lower. Personally, I will be
watching intently.
No bounce today, only a proverbial called "falling knife".
ReplyDeleteAll eyes on it.
ReplyDeleteBig drop on the euro.
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.
ReplyDeleteThanks to Draghi traders made money
ReplyDeleteAn important press conference!
ReplyDeleteGreat article, thank you!
ReplyDelete