Despite Euro's sharp rise during/immediately after ECB press conference to 1.1060 (just short of 1.1066 - 50% of 1.0517-1.1616) the subsequent failure to sustain above falling trend line (blue) suggests the bears are entering the markets on upticks and a further move below yesterday's low of 1.0981 would cement my expectation of a drop to area around 1.0940-1.0911 (Brexit day low).
On the higher side, only a convincing break above falling trend line (black) would suggest bearish invalidation and open upside towards 1.11-1.1130 levels.
On the higher side, only a convincing break above falling trend line (black) would suggest bearish invalidation and open upside towards 1.11-1.1130 levels.
