Looking toward more stimulus options...
The initial reaction from the comments from the ECB Draghi comments is to the downside.
The price has moved toward the high from yesterday at the 1.1271 area (see prior post). The 50% of the move up from the low yesterday comes in at the same level and the 100 bar MA on the 5 minute is at the level. The level has held on the first test. Below that level is the 50% of the move down from May 2016 high. That comes in at 1.12626.
Activity remains choppy as the headlines from the speech scroll through. Market price moves back up toward 1.1300. The topside trend line at 1.1318 from the daily chart remains a topside target to get to and through.
