Antonio Tajani, a vice president of the European Commission from Italy finally said what policymakers are always afraid to say: that the ECB should manage the euro lower. This would boost exports. Indeed.
And the euro reacted: it erased previous gains from weak US figures and is now struggling below 1.29.
Update: EUR/USD remains depressed under 1.2880. Attempts to rise find limits at this line. For more, see the EUR/USD forecast.[do action=”tradingviews” pair=”EURUSD” interval=”60″/]
More technical analysis: EURUSD: Bearish Cycles Remains In Play – Elliott Wave Analysis