We all know that next week is going to be extremely important for eurusd
. On Thursday we will hear what kind of steps ECB is going to take, to save EZ from deflation. Looking @ the chart, I remain bullish
on longer-term outlook but in short-term thing don't so good for bulls. I don't know what is going to happen on Thursday but another spike lower on the rate cut announcement or QE
progam announcement or whatever they can come up with, seems perfectly reasonable. However - don't forget that we are already almost 400pips lower since the talks about extra measures started. So, this could mean that another move lower could be very short lived as everything is already priced in.
Anyways - we don't know that until Thursday morning/afternoon.