EUR/USD - H1
The common currency managed to stage a solid rebound yesterday, but today, it faces renewed pressure on the back of fresh dovish ECB rhetoric.
As such, the current week draws to a close in the same manner it had begun - with dovish remarks by the President of the European Central Bank and blow to the Euro.
On Monday Ms. Lagarde had pushed back against monetary tightening and today she drives the same message home, commenting that "we must not rush into a premature tightening when faced with passing or supply-driven inflation shocks". 
This keeps the ECB/Fed monetary policy divergence into the spotlight, a factor that works against EUR/USD, as the US central bank has already announced QE tapering and some of its memebrs have been vocal about rate hikes within the next year.
The pair rejected key near-term resistance, provided by the EMA100 (black line), after yesterday's relief-rally, sparking renewed selling pressure, along with Ms. Lagarde's dovish rhetoric.
The downward momentum remains intact and there is high risk for a breach 1.13000, although new 2021 lows and test of mid-1.1200s may prove harder for now.
On the other hand, a new push for the EMA100 (1.3465-75) is not ruled out, but a strong catalyst is needed for larger recovery, that will allow the Euro to look towards 1.1400.
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 01 Dec 2021 https://www.ecb.europa.eu/press/key/date/2021/html/ecb.sp211119~3749d3556c.en.html