Thursday, 22 October 2015

EUR/USD Down Again




EUR/USD had remained in consolidation for days but today’s ECB rate decision announcement finally provoked enough volatility on the market for the pair to move to the downside. It was to be expected, considering the doji candlestick on the weekly filter chart.
That said, while the  consolidation might be over for now, the multi-week range visible on the same chart continues. The pair reached the support at 1.1160 and in the following days will either bounce off of it or it will break below that level and continue towards the support at 1.0900.
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5 comments:

  1. Unknown22 October 2015 at 13:10

    It was expected.

    ReplyDelete
  2. Unknown22 October 2015 at 15:29

    According to Goldman Sachs, the Euro could finish the year at 1.0500 if the ECB makes good on its promise of more QE on December.

    ReplyDelete
  3. Unknown23 October 2015 at 07:32

    Investors found in the words of Mario Draghi the confirmation that the ECB will be available to adopt new measures of monetary stimulus.

    ReplyDelete
  4. bewayopa23 October 2015 at 17:14

    Very good analysis, thanks for sharing.

    ReplyDelete
  5. Unknown25 October 2015 at 11:15

    EUR/USd is testing 2 months low let's see how the price will go in the opening of the week.

    ReplyDelete

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