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EURUSD rally neutralized ahead of ECB, key US data
Last Friday’s summit reaction proved yet another “kneejerk-and-done” for EURUSD, as we are back where we came from ahead of today’s ECB and key US data today and tomorrow. What next? On Tuesday, I suggested that the EURUSD chart lately seemed to be all about “fading the latest big reaction” as every time we’ve seen a big event risk or headline, we get a large kneejerk reaction that subsequently fizzles into non-directional behaviour. How appropriate, then, that as we head into today’s ECB meeting, that EURUSD is trading almost precisely where it was the day before the almost three-standard deviation ... (full story)
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