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EUR/USD Forms a Double Bottom Through ECB/Draghi Risk Event
ECB and Draghi: The European Central Bank voted to hold its benchmark interest rate at 0.75%. Then Mario Draghi held a press conference taking questions about their policy decision and his view on various economic and financial matters. The Euro found buyers during this risk event and the EUR/USD rallied sharply. Double Bottom: After finding support around the 3/1 low of 1.2965, EUR/USD came back above 1.30 ahead of the ECB meeting. The reaction was slightly bullish the meeting, and got more fuel as Mario Draghi started the press conference around 8:30AM EST. The 1H chart shows a double bottom formed about 45 minutes ... (full story)
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