Aside from the ECB wanting to maintain (or even cut) rates, Eurozone data remains lackluster while economic growth is expected to slow further. Given last week's relief rally, as well as price creating lower lows towards the key 1.12 support, it may be a good sell-on-strength opportunity for the pair, especially given that the technicals point to a break below 1.12.
Note
Possible bounce from upper boundary of bearish triangle.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.