- Trade tariffs have yet to bleed over into European markets, bearish traders should be cautious with overbought hourly indicators.
- Another showing from the ECB for Tuesday gives Draghi another chance to be even more dovish.
- The Euro’s support is holding, but could give out quickly.
Spot rate: 1.1632
Relative change: 0.08%
High: 1.1644
Low: 1.1619
Trend: Bearish
Support 1: 1.1587 (current week open)
Support 2: 1.1543 (current week low)
Support 3: 1.1485 (S1 1-week pivot)
Resistance 1: 1.1661 (38.2% Fibo 1-week level)
Resistance 2: 1.1733 (61.8% Fibo 1-week level)
Resistance 3: 1.1795 (R1 1-week pivot)
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