Look at this, Draghi did it again. He managed to bring the balance in favor of the Euro
. Nothing changed in the monetary policy
for the moment, and the ECB seems to be quite optimistic in what concerns the EU economy. EURUSD
rallied after a false breakout, and the chart shows a symmetry. The Flag type pattern fooled me again. From the basic technical analysis
a flag should have lead to a continuation, this time, just like the other one (near the rejection line of the down channel
) lead to a reverse in the direction of the price.
I would now stay attentive at an overbought euro
, which got close to 1.3630 resistance and keep my eyes on a corrective move.