Something doesn't look quite right to me at this point. The price of the EURUSD currency pair did not managed to break 1.35 support. A positive divergence was created on a 28 period . These are positive signals, if the price will manage to break again above 1.3550, I believe that the 200 ema on a 4 hours chart could be retested. I will remain slightly on short term as long as the price will not break and close below 1.3500.
the way I see it is that price is in consolidation. fact that it did not break lower yet does not worry me at all. divergences disappear during consolidation , so my personal take is continuation of the trend reversal. there is nothing bullish here and fundamentals go hand in hand with technical aspect of trading.
Prices now are at consolidation, to move on to the bearish ground it would need the ECB to introduce a LTRO plan.. negative interest rates proved to be not enough for investors. Prices are slightly moving down because the negative rates announcement is still pricing it self in the chart. The big picture trend is up while an ECB announcement of a LTRO would bring down the EUR. This pair incorporates massive risk. At the end I chose to follow the trend and go long.