Despite Euro's sharp rise during/immediately after ECB press conference to 1.1060 (just short of 1.1066 - 50% of 1.0517-1.1616) the subsequent failure to sustain above falling trend line (blue) suggests the bears are entering the markets on upticks and a further move below yesterday's low of 1.0981 would cement my expectation of a drop to area around 1.0940-1.0911 (Brexit day low).
On the higher side, only a convincing break above falling trend line (black) would suggest bearish invalidation and open upside towards 1.11-1.1130 levels.
On the higher side, only a convincing break above falling trend line (black) would suggest bearish invalidation and open upside towards 1.11-1.1130 levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.