The trend is bearish
in the short and medium term, while in the very short it remains lateral. With the last conference of the ECB governor, the investors have been surprised by a sudden change of vision by Draghi, who said that as early as the first quarter of 2019 could start to issue money at 0 interest rate in favor of the banking system since the European economic situation is getting worse. Neither deposit rates and interest rates will be increased.
The main trend is now bearish
in daily and weekly time frame, the price continues to move under the EMA
20 periods, and under the bearish ichimoku cloud
, for the static level for a trend inversion (at 1.15) seems to be too strong to be passed in the short term, the price is rejected since the end of September.
The target, at this point, if Draghi confirmed the hypotheses declared in the conference on January 24th, would be in the support zone
between 1.10 and 1.08.