EUR/USD slips down further more as US election seems to an end. The US dollar index went bullish starting on Friday with a high at 99.13, opened today with an increase-gap 99.39, high 99.67, currently trading at 99.59 intraday, highest since March 2016.
The euro seems defenseless, and day by day weaker since Brexit, and US economy booming. Over all, the pair has dropped since US election on 9th Nov from 1.1299 high to 1.0772 today's low as Trump won the Presidential election. EUR/USD is significantly bearish, awaiting Mr. Draghi's appearance today scheduled at 3:00 PM GMT and what he holds magic solution for the Eurozone.
Trend: bearish
Key levels to watch: Daily Pp 1.0827
First resistance: R1 1.0851. R2 1.0910, R3 1.0955
First Support: S1 1.0760, S2 1.0720, S3 1.0675
Remark: The general mood of EUR/USD is bearish, but keep in mind a short-term-up-correction. Also look forward for Draghi speech today at 3:00 PM, then German GDP tomorrow 7:00 AM GMT, which will either lift EUR/USD or keep it under threat depending on the outcome results.
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