ECB last week sent a strong signal to FX market that they willingly act if necessary.
Market chose a trend for EURUSD : .
EURUSD fell more than 350 pips and now test 1.100 level; this is a strong support ( two month low) .
This week, the main focus are:
- US GDP
- US Durable Good Orders
- EZ CPI
I analiyze data in my page, check here:
I support continued downtrend of EURUSD
- Next strong support at 1.0800 ( 6 month low). I wonder the I draw on the chart, could it be a ?
If this is a real break, I think the door to 1.0800 is opened.
1.0800 is the level I choose this week.