Hello Traders,
Post the ECB announcement, the Euro got bloodied up losing over 180 pips in a few hours. Since then, it is barely holding serve and support at 1.3380.
Post the aftermath of the losses, the pair has formed 3 inside bars back to back, or an 'iii pattern'. My bias now is south if it can clear the support level. Should this fail, then 1.3300 is up on deck. Any corrective pullbacks towards 1.3463 are also opportunities to sell on a rally.
Post the ECB announcement, the Euro got bloodied up losing over 180 pips in a few hours. Since then, it is barely holding serve and support at 1.3380.
Post the aftermath of the losses, the pair has formed 3 inside bars back to back, or an 'iii pattern'. My bias now is south if it can clear the support level. Should this fail, then 1.3300 is up on deck. Any corrective pullbacks towards 1.3463 are also opportunities to sell on a rally.
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