went down pretty hard on the last ECB press conference. The ECB removed its previous pledge to continue its asset purchase programme, causing a jump in the EUR's price. However, price failed to break above 1.2412 and sharplydown during the press conference when Mr. Draghi downplayed the significance of the move, calling it "a backward-looking move without signals for either our expectations or our reaction function."
Could this mean that the EURUSD
is set to continue downwards?
With a weak NFP this March, I'm not sure, but I'm inclined to follow the recent downtrend.
can break below 1.2285, I may consider selling it down to around 1.2200, at which point I'd get out and re-evaluate because this line has held strongly since January 2018.