EURUSD downside target of 1.08550 Forecast
As seen on the chart we anticipate a downside move to retest the 1.08550 - 1.08650 levels. We can expect further downside move as the council still remains dovish. Furthermore, Mario Draghi says Fiscal policy has to be the main policy tool. An increase on the monetary stimulus program is also concerning. Not to forget to mention the additional easing measures are not fully priced into the market. On the other hand, analysing price action it is evident that we have bearish momentum with price rejecting at the 1.0990-1.100 level. We have a reversal pattern with a breached bullish trend-line; therefore, we can anticipate a downside move to RT our highlighted support levels.
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