Strong support may be found at 1.1070 and if this level is breached it would be best to wait and stay away until price defines a new trend.
Chart: EURUSD H4
Thursday, October 22, 2015
EURUSD Sharply Lower
The EURUSD opened at 1.1340 today and is currently trading at 1.1110-1.1112. This is due to the press conference of Mario Draghi and the ECB rate decision. President Mario Draghi said that the bank will reassess whether to extend its massive bond-buying program by the end of the year. Draghi and ECB members left the door open for more monetary stimulus but stopped short of announcing any new policy measures. Because of this announcement the Euro lost more than 200 pips against the once again dominating US Dollar.
Strong support may be found at 1.1070 and if this level is breached it would be best to wait and stay away until price defines a new trend.
Chart: EURUSD H4
Strong support may be found at 1.1070 and if this level is breached it would be best to wait and stay away until price defines a new trend.
Chart: EURUSD H4
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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.
ReplyDeleteThe pair seems unstoppable.
ReplyDeleteInvestors found in the words of Mario Draghi the confirmation that the ECB will be available to adopt new measures of monetary stimulus.
ReplyDeleteThe pair broke below 1.1070 and next week it will probably reach 1.0900.
ReplyDeleteAmazingly great drop.
ReplyDeleteGreat true about EURUSD
ReplyDeleteLet's see if the pair will rebound from the support level or the price drop scenario will continue.
ReplyDeleteVery useful information.
ReplyDelete