FxGrow Daily Technical Analysis – 21st April, 2016
By FxGrow Research & Analysis Team
The EURUSD is under pressure ahead of ECB meeting
The EURUSD failed to cut 1.1390 giving signs of a bearish movement especially after Draghi’s press conference as he announced to deliver easing rather than further cuts in interest rates. Speculations of more easing and breaking the major support point 1.1285 will extend the bearish trend near next support points 1.1245, 1.1215 and 1.1190.
However, the EURUSD topside targets are still on the way as Draghi keeps the door open to further support the monetary union and a close near 1.1360 is needed to create a bullish move toward 1.1380, 1.1420 and 1.1460 respectively.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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