EUR/USD, EUR/JPY, EUR/GBP all in Bearish Continuation

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NFP Reactions: EUR/USD, GBP/USD, NZD/USD
NFP Reactions: EUR/USD, GBP/USD, NZD/USD

Today, the EUR is falling across the board. The ECB provided its Monthly Bulletin, which did not add any extra dovish statement, but did maintain a tone that suggests further stimulus action is possible. For example it talked about inflation being below the bank’s forecast and growth being very slow. Let’s take a look at the bearish signals given in the EUR/USD, EUR/GBP, and EUR/JPY:

The EUR/USD has bearish signals in the 4H and Daily chart and is poised to test its 2014 lows. The EUR/GBP has already been bearish at least since mid-2013. Today’s price action is showing bearish continuation that would open up the 2012-low. The EUR/JPY broke below its 2-month consolidation and is poised to test its 2014-low.

To contact the reporter of this story, email Fan Yang at fan@forexminute.com
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Fan Yang has been a professional forex trader and analyst since 2007. He specializes in technical analysis and has a Chartered Market Technician designation since 2011. He was the chief technical strategist at CMSFX He was also the founder and chief currency strategist at FXTimes Over the years, Fan has not only been a trader and analyst but also an educator. As a proponent of both technical and fundamental analysis in trading, Fan advocates simplicity and discipline as key factors in making trading decisions when faced with so many "clues" and "signals". Currently Fan Yang is the chief currency analyst and webinar instructor at forexminute.com.