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EURUSD Rising wedge supports bearish trend

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Negative CPI numbers fueled another drop in exchange rate. Bad CPI German and France data should be counteracted by ECB and bad CPI should be discussed on next ECB meeting so we could possibly expect a further guidance on ECB policy. Any announcement about further policy steps will have a strong impact on the currency. At this moment the EURUSD is technically aligned with fundamentals and that means sell the rallies is the option. POC comes in 1.0970-90 zone (H3,DPP, EMA89, 50.0) that is

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