The Euro moving down against the US Dollar ahead of the ECB monetary policy meeting tomorrow. Some market participants took profit taking after opening the long position of the euro to secure profits after going through a long bullish trend. In addition, the United States will also release building permits data one hour ahead.
Technically, the currency pair is likely to move down after forming a Bearish AB=CD Pattern. But remain cautious before taking the decision to open positions in this currency pair as some sharp moves may occur until the ECB monetary policy meeting is over.
Technically, the currency pair is likely to move down after forming a Bearish AB=CD Pattern. But remain cautious before taking the decision to open positions in this currency pair as some sharp moves may occur until the ECB monetary policy meeting is over.