TechnoMeter

On Thursday, the ECB's cautious stance on the removal of monetary stimulus sent EUR/USD down sharply, the biggest move in recent memory. This has price support running back to 2015 and the January 2017 trend-line squarely under assault again.



The thinking on this end is that we will see some backing-and-filling in the days ahead as the market digests the impact of Thursday's outcome. This could make for less-than-ideal trading conditions in the very near-term as the euro chops around. Overall, though, the bias right now is that any bounce from here, despite coming from support, is likely to be short-lived.

more...