EURUSD is rising in Draghi speach, there were couple of points to make your adjustments.
I was trading it as breakout failure , but when friday's job report came out with V shape reversal, pair regained some levels of support and consolidated in front of resistance. It broke up on weak US dollar and was flagging for one day, controlled pullback.
Today, it reached previous swing high and now we see squeez over that high on Draghi speech. ECB decided to keep interest rates unchanged. Euro broke up to new highs and reversed quickly.
I think we need a day or two to absorb that volatility. Usually it is very wheepy on Draghi's conferences, let's wait for it to choose direction.
I was trading it as breakout failure , but when friday's job report came out with V shape reversal, pair regained some levels of support and consolidated in front of resistance. It broke up on weak US dollar and was flagging for one day, controlled pullback.
Today, it reached previous swing high and now we see squeez over that high on Draghi speech. ECB decided to keep interest rates unchanged. Euro broke up to new highs and reversed quickly.
I think we need a day or two to absorb that volatility. Usually it is very wheepy on Draghi's conferences, let's wait for it to choose direction.
