Directional Trend remains...

with daily price swings as major corrections.

After a around of mixed reports, the dominating influence still has been ECB Mario Draghi's remarks that have pushed the Euro to decline last week and supported the US Dollar to recover above the 80.05/10 psychological resistance levels again.

The market's sensitivity to these news wire have made it more difficult for market participants to play the price swings that dominates the market place. Although, there were previous game changing signals that we mentioned prior to the price decline that we have seen with some of the majors & crosses, the present recovery has been more a relief and a spill over on the EURGBP cross has made a considerable rebound more appealing for bullish traders. A quick note of reference is that a major correction will always exist within a major trend but more so specially within a reinforced trend. Market sentiments remain strong for the bigger picture with a price reversal wide enough for others would call it as a trend reversal.
The EURUSD declined to a near low @1.3350 and currently @1.3435