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technical analysis

Equity markets were seen trading rather flat for the third consecutive day. The rally looks to be pausing for the moment as the earnings season gets underway.

The declines were attributed to mostly weaker banking stocks leading the way. On the economic front, data from the US was rather quiet.

Euro Falls on Dovish ECB Comments 

The European Central Bank held its monetary policy meeting on Thursday. The central bank left interest rates unchanged as widely expected. The central bank also announced that it would begin a strategic review of its monetary policy.

At the press conference, ECB Chief Lagarde cited that downside risks for the euro still remain. This saw the markets reacting negatively to the comments.

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EURUSD Breaks Out to the Downside

The euro broke past its sideways range to the downside. Losing over 0.4% on the intraday basis, EURUSD is now likely to continue to drift lower. The next major suppor...


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