Due to Paul Manafort and Rick Gates indictment the Dollar depreciated against the Euro and returned back to the 1.1658 mark.
Following ECB meeting, the pair entered into a red zone and has successfully travelled from the upper till the bottom trend-line of a dominant descending channel.
According to Mario Draghi, the ECB decided to cut the asset purchase program to €30 billion/month but simultaneously extend it to another nine months.
Despite a release of positive data on the US Durable Goods Orders, the Euro continued to rally against the Dollar yesterday.
After failing to break above the 100-hour SMA near 1.1780, the pair slipped back to the 55-hour SMA at the 1.1757 level.
On Tuesday morning the common European currency was in a rebound against the US Dollar, which was about to stop.
In result of continuous tensions on the Iberian Peninsula, anticipation of the ECB meeting and conduction of two non-binding referendums on independence in Northern Italy, the Euro depreciated against the Dollar and slipped through all three moving averages.
Despite escalating tensions in Spain, the Euro continued to rally against the Dollar yesterday.
Because of release of weak US housing data the Dollar failed to drag the Euro even below the weekly S1 at 1.1735.
Although the currency exchange rate failed to pass through the weekly S1 from the first attempt, the pair is still expected to move in the southern direction.
In result of the previous trading session, the currency rate broke through the 200-hour SMA.
Despite a release of worse than expected data, the currency exchange rate failed to surge above the monthly PP at 1.1875 and made a rebound.
In result of the previous trading session the currency pair made a successful breakout from a one-week long rising wedge pattern.
The Euro continued to gain value against the Dollar, as FOMC meeting minutes showed that there are still some uncertainties about the need of another interest rate hike this year.
The Euro continued to advance against the Dollar, as Catalan leaders decided to halt cessation from Spain in order to continue negotiations.
Due to release of better than expected German data as well as hawkish comments from the ECB official, the Euro continued to recover against the Dollar.
Despite a release of better than expected American labour data, the buck did not managed to break the lower support line of a falling wedge pattern.
Due to favourable fundamental background, the currency pair made a rebound slipped through the 100% Fibonacci retracement level again.
Unfortunately, none of the yesterday's fundamental events caused a substantial volatility in the markets.
Yesterday's trading session revealed that a breakthrough the 100% Fibonacci retracement level at 1.1715 was a false signal.
In result of the Catalan referendum and release of better than expected American manufacturing activity data, the pair broke through a combined support formed by the 100% Fibonacci retracement level and the updated weekly S1.
The Catalan referendum on independence financial markets met with expected negative reaction, which led to 0.3% depreciation of the Euro against the Dollar.
A pressure from the 100-hour SMA from the top and the weekly S2 from the bottom put the pair in a limbo near the 1.1790 mark.
As majority of pending orders are set to sell, the Greenback continues to appreciate against the Euro.