There’s not been a massive drop on Draghi’s appearance at Brookings but he was very candid on the state of Europe and the predicament they are in. Just reiterating just how long inflation and interest rates are expected to to stay low is enough to keep euro gains from not straying too far. We’re now just 14 pips off of where we took off after the FOMC minutes.
EUR/USD H1 chart 09 10 2014
We should see some support here at the 1.2650 level but we also have the convergence of the 200, 100 h1 ma’s, and the 55 h4 ma between 1.2632/42, which might help mark the bottom of this move.
