The barrier of this downtrend is in place, with a band of resistance $1.3760/$1.3780 in place. I think this is a good chance to sell.
Mario Draghi’s dovish press conference created a high in Euro/Dollar at $1.3805 which I do not expect to be breached. There is also a resistance at $1.3719 which is protective. I ultimately expect Friday’s low to be retested in due course at $1.3671.
My stop is a little wider than normal at $1.3820 (50 pips).
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