Forex Trader

When Mr. Draghi have a speach, you can’t miss it on the market, just sell euro before the speach! He said this morning,’ECB will do what it must to raise inflation and inflation expectations as fast as possible’. Maybe the ECB will act again soon, maybe not, but what do we have here at EUR/USD today technicaly. Morning sharp fall from 1.2550 to 1.2420 and still looking bearish. Euro broke minor suppor at 1.2500, 1.2450, and aiming to 1.2400 now. That level is third minor support today, stronger one at 1.2350/60, the lowest level in the last two years, previous low from November 07. We can see on this chart, that isn’t Draghi the only one who is ‘quilty’ for this fall. 1.2570/80 hold the euro on the way up for hole November, the 38.2 fibo return from the October 15. –> November 07. fall and that was good point for selling this pair as well. Let’s see could euro recover today and how much, or the fall will be continued!?