Antonio Tajani, a vice president of the European Commission from Italy finally said what policymakers are always afraid to say: that the ECB should manage the euro lower. This would boost exports. Indeed.
And the euro reacted: it erased previous gains from weak US figures and is now struggling below 1.29.
Update: EUR/USD remains depressed under 1.2880. Attempts to rise find limits at this line. For more, see the EUR/USD forecast.
new TradingView.widget({
“width”: 610,
“height”: 400,
“symbol”: “FX:EURUSD”,
“interval”: “60”,
“toolbar_bg”: “#E4E8EB”,
“hide_side_toolbar”: false,
“allow_symbol_change”: true
});
More technical analysis: EURUSD: Bearish Cycles Remains In Play – Elliott Wave Analysis
