Eur continues to fall
The post-ECB rally is going bust.
On Friday, the euro rose to the highest since August 27 but it formed a bearish head-and-shoulders pattern on the hourly chart and now it’s broken down in a big way.
The market is waiting and watching for the response to the Saudi attacks and if it escalates, expect more gains in oil, safe currencies (USD, JPY and CHF) and gold. However if it spirals into broader risk aversion, the euro could benefit as carry trades are covered.