Technical review of the EUR/USD 24.02.2014

On the last weekend ECB president Mario Draghi announced in Sydney that the next ECB meeting which is supposed to take place next week will be vital. Most likely he is right. According to the latest data Euro Zone CPI has dropped by 1,1% (prediction 0,8%) compared to the last month. Looks like it is getting much harder for Draghi to avoid further monetary policy mitigation. 

Recommendation: we buy EURUSD in case of a breakthrough and clear fixation above the strong intermediate resistance level of 1,3830 with small stakes and we increase our stakes if the price goes above 1,3900 with the first goal of 1,4000 and the second of 1,4250

Andrey Batensky​