EURUSD
EURUSD fell sharply on ECB chief Draghi's comments, saying that the ECB will keep QE unchanged and promised more, if necessary. Also, disappointing rise of inflation and euro zone’s economy recovery, in lower than expected pace, triggered fresh pressure on the single currency.
The pair fell over 100 pips on acceleration from 1.1230 zone, which broke below key support at 1.1154, 28 Aug former low and cracked daily Ichimoku cloud top, on extension to fresh session low at 1.1106, where daily 100SMA offered temporary support.
Near-term structure significantly weakened on the latest bear-run, with penetration into daily cloud, expected to open way for further easing and expose next strong supports at 1.1015/08, lows of 18/19 Aug / daily cloud base.
Bounce on oversold near-term conditions is seen preceding fresh leg lower, with former key support at 1.1154, now being reverted into initial resistance an daily 20SMA at 1.1190, also 61.8% of 1.1236/1.1106 fall, expected to cap corrective attempts and keep in play freshly established near-term bears.
Res: 1.1154; 1.1171; 1.1190; 1.1242
Sup: 1.1106; 1.1050; 1.1008; 1.0960
EURUSD fell sharply on ECB chief Draghi's comments, saying that the ECB will keep QE unchanged and promised more, if necessary. Also, disappointing rise of inflation and euro zone’s economy recovery, in lower than expected pace, triggered fresh pressure on the single currency.
The pair fell over 100 pips on acceleration from 1.1230 zone, which broke below key support at 1.1154, 28 Aug former low and cracked daily Ichimoku cloud top, on extension to fresh session low at 1.1106, where daily 100SMA offered temporary support.
Near-term structure significantly weakened on the latest bear-run, with penetration into daily cloud, expected to open way for further easing and expose next strong supports at 1.1015/08, lows of 18/19 Aug / daily cloud base.
Bounce on oversold near-term conditions is seen preceding fresh leg lower, with former key support at 1.1154, now being reverted into initial resistance an daily 20SMA at 1.1190, also 61.8% of 1.1236/1.1106 fall, expected to cap corrective attempts and keep in play freshly established near-term bears.
Res: 1.1154; 1.1171; 1.1190; 1.1242
Sup: 1.1106; 1.1050; 1.1008; 1.0960
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