Technical outlook and chart setups:
Please note that the chart was prepared just before today's announcement of the ECB and hence the price difference is seen. The pair is seen to be trading at 1.5200 and it may be poised to drop further towards the level of 1.4900 as well. It is also possible that the pair can bounce off higher after having bounced off the Fibonacci 0.786 support at 1.5050. It is hence recommended to remain flat for now. Immediate support is seen at 1.5000, while resistance is seen at 1.5320. Bulls need to pass the level of 1.5320 at least before buying on dips here.
Trading recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com