Thursday, August 2, 2012
CHART: Insane EUR/USD Candle Reacts to ECB and Fed
EUR/USD pierced 1.228 resistance after ECB President Mario Draghi said the "ECB is ready to do whatever it takes to preserve the euro," sold off at downtrend resistance from May after no QE from the Federal Reserve, and is now dropping like a rock after the ECB's disappointing statement (continued uncertainty about their plan). EURUSD is at 1.21931 -0.47%. The next levels to test are 1.204 and 1.187, see the chart below. The U.S. markets just opened and the Dow is down 0.44%.
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