Chart Analysis:
- In the weekly chart the price crossed the SMA-20 periods (which stands for half year price average), we had the confirmation at the end of the week since the weekly session closed above SMA-20
- Now we have a complete green candlestick above the strong weekly support line 1.08459
- And the SMA-20 is upward directed
- Mario Draghi in the last EBC conference emphasized how strong the economics European figures are.
- At the same time he didn't strongly encourage investors to buy more EUR due to French elections, which was translated with that small weekly green candlestick, in other words market hesitation