Eur/Usd: Bearish setup

20 ก.ย. 2016

Among the ECB speakers due out over the coming days, President Mario Draghi’s will have the most impact this coming Thursday. Last week we seen this pair basically move sideways, with no direction and then finally broke out to the downside. Overall I am bearish on this pair, during the London open we seen this price retest the "1.1200" area, which allows those that missed the earlier move to now join. The "1.1150" support zone is a significant area as price has not closed below here since late August despite various bouts of weakness. Targets are set at "1.1100" but sellers could potentially run into some trouble at "1.1125"