This is an intra day update on key Capital3x bond market indicators for EURUSD, EURJPY.
But before we look at the Falcon and Gladiator, here is a quick update on Draghi speech which will have implications for some EUR crosses esp EURAUD and EURCAD.

ECB’s Draghi noted:
- risks surrounding economic outlook are on the downside
- the ECB doesn’t pre-commit on future decisions
- today’s rate decision was unanimous on all grounds
- the ECB did not discuss any non-standard measures
- negative deposit rate has not been discussed

ECB’s Draghi made no hints of further liquidity measures, including another round of LTROs, and although this was not widely expected there was some anticipation in the run-up. As there was no comments to this effect stock futures moved lower throughout much of the press conference, and weakness also continued in the EUR currency, with EUR/USD now trading around its session low. Although the Euribor strip saw moved higher on the announcement that the ECB cut the deposit rate, little movement was seen during the Draghi speech. Fixed income markets also saw limited movement.

Falcon EURUSD hits -1 at 1.2505 and stayed well below -1 for over 120 pips from 1.25. Auto trading mode described in the cheat sheet would have given a clean 50 pips to 1.2455 but any other trading strategy would have given over 100 pips in profit.

Falcon EURJPY hits -1 at 99.77 and post a ret gave over 50 pips to 99.27 and went as low as 98.95. The Falcon is still -1 and below.

The Falcon has done the job on EURUSD and EURJPY for the day and hopefully will soon enjoy the master confidence in its ability to hunt pips at will.

Please continue to monitor the Gladiator on ES SPX Emini. Increasingly looking like a hurricane approaching. The key statement in Draghi statement that should be noted is “downside risks increase”. This may signal some kind of temporary pause in EURAUD fall as we approach one of the most important levels on the EURAUD charts on days and weekly close: 1.2075 which is the weekly BB lower line.

Rest of charts and analysis later during NY session

Mark

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