EUR/USD, the euro is afraid of Draghi!
After the pair didn’t manage to break 1.1380 yesterday, all day was to calm with up trendline support at aprox 1.1335/40. During the Asian sesion, the pair slowly broke that trendline and the pair slided furder to the support in this morning. Looks bearish and the support could be in danger now, wich is not strange if we know that ECB and Mr.Draghi are coming today. If this support break, next station for the pair could be 1.1250/60, the up trendline wich has supported the pair at the end of September, begining of October. Bellow follows daily MA’s and 1.1080/100, the support which I pointed in my previous analysis. This support level at 1.1280/310 could turn out to be a double bottom as well, October 19. > today. If yesterday was to calm here, today we could see some action, thet’s for sure. On the way up, 1.1340 is the first resistance now, down trendline at 1.1365 is second, 1.1380/400 the strong one. We all know that Mr.Draghi mostly have a negative impact on the euro when he talks, that will be the real test during the press conference.