The Euro has come under broad negative pressures through mid-January, driven by continuing political turmoil in France and Italy, plus in Greece, Tsipras called and closely survived a vote of no confidence.
Furthermore, the European Central Bank had been expected to begin to tighten up their very accommodative monetary policy and maybe start hiking rates by summer 2019. Disappointing inflation data is still the major concern for the ECB President, Mario Draghi and ahead of Thursday’s ECB Meeting, he cautioned markets last week that significant improvement would be required to see the rate hiking cycle commence.
This sent the Euro lower and leaves the spotlight on further comments on the Thursday 24th January meeting.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/eurusd-downside-threats-ahead-of-thursdays-ecb-meeting/