The price of euro sharply declined after the conference of the head of the ECB Mario Draghi. In his speech, Mr. Draghi noted the willingness to launch new measures to fight deflationary risks in June. In addition, it was noted that the economic recovery is at the slow pace, and among the risks were identified low level of inflation in the euro area and geopolitical risks.
In case of further decrease the price of the euro can fall to the strong level of 1.3790. Within the upward correction, the price may rise to 1.3850.
Considering high probability of launching new measures of monetary policy easing by the ECB in June, and the reduction of quantitative easing in the U.S., we maintain a long-term negative outlook for the euro.
Wish you the profits!
FXFINPRO Capital Analytical department.