The EUR/USD continued its downtrend last week after the ECB announced that it was going to purchase bonds at the pace of 60 billion euros starting in March until at least September next year. Anticipating a Pullback Within a Downtrend: The 4H chart shows the pair consolidating ahead of the ECB announcement. It then swung from around 1.1645 down to 1.10 to start this week. The price action, moving averages, and the RSI readings have been reflective of a persistent bearish trend and there has not been any signs of it stopping, expect for the bullish divergence we can spot in the 4H chart. Note that the price action has ... (full story)