Price action has broken the downward daily trend line
which now becomes support. Price is bullish
above the trend line
and break of 38.2% Feb level and is likely to consolidate around 1.1 while markets wait for the ECB interest rate and monetary policy
statement due Thursday.
A break to the up or downside is possible however my preference is towards a break down ( Elliott Wave
Be ready to turn into a bear
based on the news result, equally appealing trade opportunities should be available on both sides of the market.