EURUSD on the monthly timeframe trading in a larger balance between 1.0482 and 1.145 (rough estimate) since the start of 2015. Its been more than 2 years and EURUSD is trading is the tighter range on the larger timeframe. Now EURUSD is trading at the edge of the top balance. In the last view on EURUSD we viewed 1.0651 as a critical support zone for the uptrend to continue
The EUR/USD consolidated its recent gains following a surge in the exchange rate in the wake of the ECB meeting. While the central bank mostly stuck to the script, keeping rates unchanged and QE in place, it did strike a more neutral stance but this will come slowly over a long period of time. Draghi, shrugged off the recent increases in inflation as transitory, and believes there is a need for the current stimulus to remain intact.