The EurUsd made entered a bearish market on the background of the ECB's meeting. The overall chart is very bearish and the EurUsd seems to be heading towards 1.06948 with 1.09315 as a primary objective.
Comment:
Though all objectives were achieved, I d rather wait for the ECB as a probable cut in interest rates and a more expansive monetary policy would send the EurUsd seeking lower lows. The trend is still bearish, with 1.05933 as an objective. A stronger American economy has put heavier pressures on the EurUsd as the greenback is growing stronger.
Comment:
EurUsd is attempting an inversion. Until now I still think its a technical bounce. Things will be clearer after the ECB's conference in Frankfurt today. The results of the conference will give a clear overview of the evolution of the parity over the few weeks to come. I'm still holding on to my objectives for tomorrow.
Trade closed manually:
Trade closed manually
