ECB comments will increase volatility in the Euro/Dollar
The pair is screaming for a rebound, analysts say
Technical analysts at Digital Look were quick to point out on Thursday that volatility in the euro/dollar is a key ingredient every time European Central Bank (ECB) President Mario Draghi takes to the podium after a rate decision.
“And this is the case now more than ever with nerves on edge after the pair dropped from 1.35 to 1.2560 in just a little over two months,” they said.
These experts noted that, regardless of Draghi's comments, the Euro/Dollar is “screaming for a bounce”.
“Even though the trend is clearly bearish, a fall is rarely linear, but rather tends to occur in a pattern similar to the teeth of a saw,” they added.