 Tools for TradersTop Movers | Heat Map | Pivot Point | Pivot Meters | Action Bias | Volatility Charts Action InsightMid-Day Report: Euro Struggles to Gain as ECB Draghi Talks Down Even Tiny Step of Exit Euro is initially short up as ECB turned a bit less dovish in the statement after keeping monetary policy unchanged. However, the common currency cannot extend gains as there is no follow through buying. More importantly, ECB President Mario Draghi tries to tone down the significance of the change in the post meeting pressing conference. For now, EUR/USD is still trading below 1.2443 minor resistance, EUR/GBP below 0.8967, EUR/JPY below 132.01. The only exception is EUR/CHF, which is marching on 1.17 today and is on course for 1.1821 key resistance. Technical OutlookEUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.2381; (P) 1.2413 (R1) 1.2441; More.... EUR/USD edges higher to 1.2445 but fails to sustain gain above 1.2443 temporary top. Intraday bias remains neutral first and some more consolidative could be seen. For now, further rise will remain mildly in favor as long as 1.2268 minor support holds. Firm break of of 1.2555 and 1.2516 long term fibonacci level will carry larger bullish implications. On the downside, below 1.2268 minor support will turn bias back to the downside for 1.2154 instead. Suggested ReadingsECB Drops Easing Bias, EUR Climbs NZDUSD Stands in Sideways Channel; Negative Movement is Forecasted Dollar Waits for Tariff Ceremony; European Stocks Inch Up ahead of ECB Rate Decision EU Stocks and Euro Bide time ahead of ECB and US Tariffs USDJPY Hovers Around 106.00, Remains In Weak Sell-Off Economic Data
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