The European Central Bank President Mario Draghi, has just finished his presentation in London, which added a great relief to the markets. He announced that the presiding entity is ready to take any steps that are necessary to preserve the euro. He ended by saying "and believe me, what is done, it will be enough.” Accompanied by Governor of the Bank of England Mervin King, Draghi statements were made in the context of the Global Investment Conference.
The single currency was largely benefited growing in a few minutes from 1.2115 to 1,2285, with subsequent to correction logic.
This message appears to Draghi as a reversal of the ECB which, under the pressure from the IMF and the United States, should take concrete steps to avoid the euro devaluation against the dollar, but also to gain trust from investors again. And if that is not enough, it is also necessary to make sure that some countries will not leave the EU.
Will it be a turnaround in the medium term? We think not. But there may be some recovery in the euro in the upcoming days, which also must pass the key resistance 1.3330. Over the years, this value has become a strong barrier for the euro, either upward or downward.
The other currencies, whose short-term scenarios were similar, are also strengthened at this time.
The Australian dollar was finally able to fill the gap left by the Asian session on Monday, while the British pound could recover from disappointing second quarter GDP met on Wednesday.
The sudden rise of oil, meanwhile, gives strength to the Mexican peso, whose short-term trend is bullish against the dollar, despite the corrections of the last days, and the Canadian dollar, which again sees the deadlock before the U.S. dollar very close to it and it is likely to reach and even exceed this level.
With European markets in a session euphoric, the German DAX 30 saved their uptrend on the daily charts with a touch on a line, whose break was devastating. The markets finally left very narrow price ranges, and for the first time move to the beat of good news.

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