EURUSD Exhaustion to the Daily Trend Line before Continuation

EUR/USD breaking higher despite the ECB’s dovish stance. The European Central Bank (ECB) recently underscored its dovish stance by sharing that downside risks have proven “somewhat longer lasting” than previously expected. Draghi and Co also said that it’s ready to “adjust all its instruments” in case of weaker growth and inflation prospects. In addition, it doesn’t look like we’ll see any change in its low-interest rates “at least through the end of 2019.”

After a good test of the Daily trendline (In Red) I will be expecting bears to overpower bulls for the remainder of this month.

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