The ECB kept interest rates unchanged at 0.00%, low rates are expected to stay at these levels for an extended period of time.
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The Euro fell sharply after Draghi indicated that an extension of Quantitative Easing and Tapering was not discussed. Due to these facts, I am currently bearish on the EURO. The Commitment of Traders Report further strengthens this bias, as it shows a substantial increase in Short Non-commercial positions.


At the start of the month price opened at MPP and went up to MR1, where it was resisted. It subsequently fell to MM2 and it is currently at support.


At the start of the week price was range bound between WM3 and WM2.Support was broken at WM2 and is now at resistance. Price found support at WM1, then resisted at WM2 and fell to WS2. The 55 and 21 EMA are bearish with the 55 above the 21.


On Friday price was bearish, as it fell from DPP to a daily target DS2. It then retraced back to DM1 most likely due to profit taking at DS2. The plan is to sell EURJPY either at the first or second level of resistance, or at the 21. New pivot points coming out this week.

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