Mario Draghi conference, which took place yesterday, introduced a lot of confusion on the euro market and it was absolutely the number one topic:
EUR/USD:
Eurodollar yesterday established a new local maximum, which turned out to be a false breakout. Price plunged instantly, giving almost 160 pips decrease. Such rapid movement does not allow to open any transaction. It is worth to observe the price behavior at the nearest support. A buy signal from PA can be used to open long positions.
GBP/AUD:
Cross dropped below the key support, which now should be a resistance. Currently, the price is testing it and if there are clear sell signals we will be able to consider short positions, in accordance to the recent momentum.
NZD/JPY:
On New Zealand dollar to Japanese yen, price dropped to the vicinity of support. Trend is upward, so we should look for purchase opportunities.
NZD/USD:
During yesterday US session it seemed that the Kiwi will end it falls, because the hourly chart has formed a pin bar candle exactly on the support line. At night, the minimum has deepened, but also the price rebounded exactly from the 21-term EMA. Given that, the pair is in an uptrend for a long time, we should still look for buy signals.
USD/CAD:
Canadian dollar strengthens, which led to the break below the support. 1.0858 level should now act as a resistance and with PA sell signal, it will give a opportunity to open short positions in line with the recent momentum.
