EUR/USD has been driven to its daily lows during and after the European Central Bank (ECB) press conference. Mario Draghi, the ECB’s President sees no need to modify guidance on rates. Additionally, there is no change in outlook for inflation and growth and no new monetary policy message. EUR/USD is currently trading just above 1.1672 support. The recent drop hasn’t broken below Wednesday’s lows or any significant support that would put the current bull leg in peril. On that basis, sideways to up price action can be expected after the ECB-driven 50-pip move down. Bulls will need to regain 1.1700 while bears will try to break below 1.1672. EUR/USD 15-minute chart Spot rate: 1.1685 Relative change: 0.37% High: 1.1744 Low: 1.1673 Trend: Bearish / Risk of trend reversal above 1.1730-1.1750 Resistance 1: 1.1700 figure Resistance 2: 1.1730-1.1740-1.1750 area, 23.6% Fibonacci retracement mid-April-May bear move, weekly high. Resistance 3 1.1760-1.1795 supply levels Resistance 4: 1.1851-1.1854 area, June high and 38.2% Fibonacci retracement from mid-April-May bear move Support 1: 1.1672 June 27 high Support 2: 1.1654 current weekly low Support 3: 1.1640-1.1649 area, key level and July 12 low Support 4: 1.1600-1.1613 figure and July 13 low Support 5: 1.1560 June 14 low Support 6: 1.1508 current 2018 low 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 US stocks trade mixed, Nasdaq hammered down by a slump in Facebook shares FX Street 5 years EUR/USD has been driven to its daily lows during and after the European Central Bank (ECB) press conference. Mario Draghi, the ECB's President sees no need to modify guidance on rates. Additionally, there is no change in outlook for inflation and growth and no new monetary policy message. EUR/USD is currently trading just above 1.1672 support. The recent drop hasn't broken below Wednesday's lows or any significant support that would put the current bull leg in peril. On that basis, sideways to up price action can be expected after the ECB-driven 50-pip move down. Bulls will need to regain 1.1700… 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.
