Whilst UK & US Markets traded without traders yesterday, EUR/USD made a little progress clawing back 21 pips of the 76 lost during last week. The expected poor liquidity was evident – but we’re getting used to that!
DP is untested below PA, Pivots are in Bearish formation and the momentum appears Southbound. Apart from the Support Trendline on Daily Chart, I’m struggling to find a technical reason for the cross NOT to fall. This then is the Key level today and a break might see EUR/USD at 1.3500 fairly quickly. I’m not sure yesterday’s mini rally and can withstand the scrutiny of the now refreshed trading community.
The Day Ahead
The DP Test might just produce a decent ride – it’s Plan A for sure.
High Impact News – CET
|3:30pm||EUR||ECB President Draghi Speaks|
|4:00pm||USD||CB Consumer Confidence|
Terriffic Tuesday everyone