EUR/USD - H1
The Eurodollar had opened the week in good mood, but things deteriorated quickly during the US session and in the aftermath of Ms. Lagarde's dovish remarks, driving it to its lowest level since July 2020.
The ECB President had said on Monday that "…we still see inflation moderating in the next year, but it will take longer to decline than originally expected". She also repeated that that the bank's three conditions for raising rates are unlikely to be satisfied in 2022 and that an undue tightening of financing conditions is not desirable. 
Along with the Dollar's broader strength at the last part of Monday, the pair breached 1.1370, setting new 2021 lows. As per yesterday's analysis, this has opened the door for further weakness towards the 61.8% Fibonacci of the 2020 low-2021 high advance (1.1290), although some correction may be needed before that. The next support is located at mid-1.1200s.
The Euro tries to take a breath today and a rebound above 1.1400 is reasonable from a technical prospective, but a catalyst would be required for a larger recovery towards the EMA100 (mid-1.1400s).
Today's economic calendar features quite a few releases from both Eurozone and the US - most notably US Retail Sales - that have the potential to determine the pair's next move and increase volatility.
Past Performance: Past Performance is not an indicator of future results.
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
Retrieved 16 Nov 2021 https://www.ecb.europa.eu/press/key/date/2021/html/ecb.sp211115~6fa9a12c1e.en.html