EUR/USD, euro whatever happens!
Yellen knows how to ‘talk’ with the market, but reaction is the same with concrete actions by Central Banks, in the favor of the euro all the way. That’s why I wrote yesterday that I am expecting for the euro to go up again, but I didn’t see this is coming as reaction at Yellen’s speech. Well, I wrote as well that it will be hard for the sellers to broke the euro down in the first place and this is how it looks like a day after. The pair reached down trend line, in wich I have pointed before in my analysis as a first resistance, with high of 1.1328 for now, but it looks like the buyers are not satisfied with this and they could try to reach the resistance level at 1.1350/80!? It’s not easy for them as we see. On the way back, there is 1.1200/20 as an first stronger support. It’s interesting now to see how will this pair end in March, as I wrote yesterday, in the last 12 months the eur/usd is closing the month bellow 1.1220 and this will be the 13th in a row! The buyers looks determined enough not to allow that!?