Analyzing a Performance Chart
Markets

EURUSD advances to underside of broken trend line and comes off

The market more balanced against level

The EURUSD has surged higher through Draghi comments. I am not sure he has surprised and that is the reason for the push or is it simply that was the way it was going today.

In any case, the pair moved above my resistance area defined by the swing levels at the 1.1333-45. The low price - after his start - did trade below 1.1333 for a few minutes (see 1 minute chart below), but that was reversed, and the price spiked.

The last 50 minutes (see chart below) is seeing more up and down volatility.

The press conference is now over and the wiggles and waggles from the tension is released. The price has moved lowered and is back down to the top of the support area (at 1.1345). A move back below will now be eyed. Ah....the chop from long extended press conferences.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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