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.
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