Euro is continuously dropping before Draghi's speech. Market is waiting for message of EBC's standpoint on monetary policy. Currently, it's forming head and shoulder pattern and supported at 1.1255. As usual, Draghi's dovish tongue'll make Euro drop sharply. Thus. it's likely that Euro'll lose the key support, which will carry a larger bearish implication that rebound should be confirmed from 1.1185. Intraday bias is back on the downside for 50% retracement of 1.1285 to 1.1185 at 1.1235. The further decline should be seen to 61.8% retracement at 1.1220. On the upside, though steadily stand above 1.1255 will turn focus back to 1.1285 instead.
The target is 1.1220.
Turning point: 1.1255.
Under 1.1255, bearish , target price is set at 1.1235, then 1.1220.
Above 1.1255, bullish , target price is 1.1285.
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Prior Strategy:
The target is 1.1220.
Turning point: 1.1255.
Under 1.1255, bearish , target price is set at 1.1235, then 1.1220.
Above 1.1255, bullish , target price is 1.1285.
If you like the strategy, please click "AGREE" and follow me. Your trust is my biggest motivation.
Prior Strategy:
