EUR/USD, a quick return!

eur-usd 19.05.

I wrote in my EUR/USD analysis from May 14. that 1.1380/450 is the sellers teritory. Here we are only few days latter, the pair broke true the first support at 1.1280 easy after the ECB’s Coeure talk and reached 1.1159 low for now. Decline has stoped with Daily MA100 for now, support and buyers are waiting at 1.1060/130. Could that level stoped and return the pair up? Well, ‘the credit’ for this decline goes to the ECB’s members, who treaten with ‘words’ each time when the euro strengthened against it’s opponents. Today, the ECB’s Coeure said, that the ECB may accelerate QE. Whether they do it or not we don’t know and all we can do is monitor the technical levels and try to determine the turning points. This could be ‘the one of those points’. The pair could ‘collect’ stop losses under the support, but let’s monitoring the furder move and see what will happen today. It’s interesting here once again, this is great. Must say at the end, that I don’t belive in talk, I believe only to concrete moves when it happens. Until then…


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