EURUSD had a major breakout to the downside yesterday. Hawkish FOMC and Powell comments increase the downside pressure for EURUSD and the orange trend that started in late November finally broke. If the last dip, 1.1180 breaks too, the lower line of the bearish trend channel can be targeted in the short term. Tomorrow, GDP data will be announced for France, Germany, Spain and with the next week’s payrolls data from US, ECB meeting, there is a lot of input for EURUSD to increase volatility in the short term. Some members become more hawkish in the ECB lately but Lagarde is still at the transitory inflation camp for the moment. This ECB meeting might give some tips about any possible change for ECB dovishness will continue.
