Recently the Euro hit the upper trend line of a massive scale channel down against the US Dollar. As a result of that event the decline of the pair began. However, that ended, as ECB President Mario Draghi began speaking at the monthly ECB press conference. The currency pair erased all previously suffered losses and surged back up to the zone marked by the upper trend line of the dominant pattern.
Due to that reason market participants will be closely watching, whether the pair breaks the resistance cluster near the 1.1575 mark and begin a new, long term surge or bounces off of it to continue the already began retreat and trading in the dominant pattern's borders.
Due to that reason market participants will be closely watching, whether the pair breaks the resistance cluster near the 1.1575 mark and begin a new, long term surge or bounces off of it to continue the already began retreat and trading in the dominant pattern's borders.
