Remember how strong the euro was resisting the downtrend before the rate cut, it was set for a bounce back to near 1.38..
The rate cut caught everybody off guard 98% did not expect it, so they panic sold.
Once the drama has left the traders head they will continue their move towards 1.38, although obviously
with less enthuasiasm.
The rate cut caught everybody off guard 98% did not expect it, so they panic sold.
Once the drama has left the traders head they will continue their move towards 1.38, although obviously
with less enthuasiasm.