Last Thursday's ECB Press conference lacked hawkish statements which weaken the currency to slide down the levels as majority of the ECB Board wanted a pause in the rate.
The EURUSD has been on a descending channel since 17th July to date.
Price is currently correcting after hitting the 1.06310 support level and it is expected to fulfil a Fibonacci retracement to the 61.8% level before further shorts down to the 1.05192 support level.
The EURUSD has been on a descending channel since 17th July to date.
Price is currently correcting after hitting the 1.06310 support level and it is expected to fulfil a Fibonacci retracement to the 61.8% level before further shorts down to the 1.05192 support level.
Trade active:
The trade is still active, and 140 pips done by close of Friday market closing.
