EUR/USD crashed quite sharply following the one two punch from Draghi and the NFP, closing at 1.0846. This may not be the end. Brian Martin & Dylan Eades of ANZ foresee the next levels down the road, and explain with a chart: Here is their view, courtesy of eFXnews: “Price action has confirmed that the euro is being driven by actual and expected portfolio rebalancing effects and that the market is ignoring the improving growth and inflation outlook. For now though, the FX markets are ignoring the improved growth outlook. Instead negative interest rates and the expectations of persistent difference in the policy path with the US are weighing on EUR/USD. The February NFP release was materially stronger than expected. NFPs rose by 295k and the unemployment rate fell to 5.5% from 5.7%. Whilst earnings growth remains soft at 2.0% y/y, expectations are now firmly focused on a removal of the reference to “patience” at the March FOMC meeting. That would confirm that the FOMC has moved away from date dependency in its forward guidance to data dependency. If, as we expect, the activity data firms again in coming months, then the FOMC remains on course to begin normalising interest rates soon, probably at the June meeting. In the interim, the USD can continue to take the strain for monetary tightening. Further downside risks seem probable and the break of 1.10 points to a test of 1.05, or possibly parity.” Brian Martin & Dylan Eades – ANZ For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next EUR/JPY Corrects Post Japanese GDP Guest 8 years EUR/USD crashed quite sharply following the one two punch from Draghi and the NFP, closing at 1.0846. This may not be the end. Brian Martin & Dylan Eades of ANZ foresee the next levels down the road, and explain with a chart: Here is their view, courtesy of eFXnews: "Price action has confirmed that the euro is being driven by actual and expected portfolio rebalancing effects and that the market is ignoring the improving growth and inflation outlook. For now though, the FX markets are ignoring the improved growth outlook. Instead negative interest rates and the expectations of persistent difference… 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.