A lot of analysts are scratching their heads on the continued rise of EURO after the ECB Press Conference in which Mario Draghi set the interest rates negative for the bank deposits. EUR/USD initially dropped then it started rising. All the signals are for a bullish EUR/USD.
Now all eyes are set on the US Jobs data release. If the US Jobs data once again surprises the market, EUR/USD might make a retracement but the signals are there for it’s rise in the coming days and weeks. There is bullish divergence on D1 and EUR/USD has found strong resistance on EMA50 line. Many analysts are still scratching their heads on EUR/USD behavior but this analyst is claiming that the behavior of EUR/USD is predictable and it was all expected. Some analyst are saying soon EUR/USD will start going down again.