As I wrote today for premium members; after ECB Monetary Policy announcements EURO has started to lose blood. And as it was not enough for EURO bulls; the political situation in Spain – Catalan Independence Declaration – fell into the news. We are likely to see a weak EURO for a while. I believe that Draghi does not want a strong EURO.
Dollar Index ( DXY ) will play an important role in EURUSD game. I have published an article on Friday about DXY. New visitors can read from the following link.
Dollar Index and new scenarios: An overview
As the largest part of the Dollar Index, the euro was also carving out a reversal pattern. The neckline of the head and shoulders top was violated with the help of Draghi’s open-ended extension of the ECB’s asset purchases.
Technicals And Key Levels