FX:EURUSD   Euro / U.S. Dollar
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Well... it was quite a ride yesterday in EURUSD             during the ECB. We went higher, took out the 1.3966 high, failed to take 1.4000 (by 3pips) and then headed lower. Time to switch bias? Oh no! Way too early to do that. We went back into the triangle and right now we are testing a major support level . If we break that one, then further upside should be put on hold but until then, the trend is up and very much intact.
Furthermore - if you paid attention to what Mr. Drahgi said, then you know that the euro             appreciation is due to money flows, which means that real capital is flowing into EZ. If you think that after Mr. Draghi's comments that is going to end, then I suggest you think again.
and what now? if we close under 1.378?
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euro is looking heavy - no doubt about that! I'm watching closely what happens now. I need more data as this spike consists of very few candles, so the smartest thing to do right now is to wait. Probably we will not see any significant change today.
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