EUR/USD, dead cat bounce!
The outer side of the previous strong support trend line want let go and the pair can’t pass true to reach daily MA’s 200 and 100 at resistance area 1.1115/35 for now. The pair has covered 23.6 of the ‘Draghi’s talk’ but this seams to be the sellers teritory now and it will be interested to see how will bulls respond here, can they brake this for possible return up? The pair is slightly bullish, but there is no enough strenght in this attempts to go higher. As I see it, the target for the bulls are the daily MA’s 200 and 100. On the way down, first minnor support is at 1.1035, second the stronger one at 1.1000. If the sellers took over now, they must brake that level for furder slide toward 1.0800/50. It’s not so interesting for now, which is not strange after huge fall on Thursday/Friday, the pair is consolidating in the last two days. Let’s see what next.