simonsays452
Short

Every recent Euro drop has seen ~0.5 bounce/~50% retracement

FX:EURUSD   Euro Fx/U.S. Dollar
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Today, Euro             fell just 1.4bps short of testing another critical support level on really no news. While RSI is at 8 month lows, the technicals still support momentum to the downside. Draghi is speaking Wednesday morning. On Thursday, we have a slew of EZ inflation and production data followed by speeches from 4 Fed-heads - Bullard (Hawk), Lacker (Hawk), Evans (Dove) and Dudley (Dove), all before 12:30pm! Expect plenty of volatility and remember there's no straight lines in the market. Every recent large drop in Euro             has seen ~50% retracement, which has corresponded to ~0.5% bounce off the low. Take profits at targets and be prepared for bounces! Good luck!
Rob
a year ago
Every recent Euro drop has seen ~50% bounce and ~100% extension
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