The pair remains on the defensive and tests lows in sub-1.1700 area. Draghi sees no need to modify the forward guidance. ECB noted uncertainty around inflation is diminidhing. EUR/USD is now losing the grip and manages to pierce the key 1.1700 milestone as Draghi’s press conference/Q&A session is under way. EUR/USD looks to Draghi The pair remains on the defensive on Thursday following the ECB monetary policy meeting and press conference by President Mario Draghi. EUR stays weak after Draghi said there is no need to modify the current forward guidance. In addition, Draghi remained hopeful that inflation could converge to the central bank’s target, while he noted that uncertainty surrounding the inflation outlook now appears alleviated. As usual, Draghi pledged for a major commitment in the implementation of structural reforms. Regarding the ongoing trade war(ish), Draghi suggested that such a scenario would create an entirely different climate. EUR/USD levels to watch At the moment, the pair is down 0.27% at 1.1696 facing immediate support at 1.1684 (21-day sma) seconded by 1.1575 (low Jul.19) and then 1.1527 (low Jun.28). On the upside, a breakout of 1.1749 (high Jul.23) would open the door to 1.1792 (high Jul.9) and finally 1.1853 (high Jun.14). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Draghi speech: We welcome the successful action by the Greek government FX Street 5 years The pair remains on the defensive and tests lows in sub-1.1700 area. Draghi sees no need to modify the forward guidance. ECB noted uncertainty around inflation is diminidhing. EUR/USD is now losing the grip and manages to pierce the key 1.1700 milestone as Draghi's press conference/Q&A session is under way. EUR/USD looks to Draghi The pair remains on the defensive on Thursday following the ECB monetary policy meeting and press conference by President Mario Draghi. EUR stays weak after Draghi said there is no need to modify the current forward guidance. In addition, Draghi remained hopeful that inflation could converge… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
