Today Euro is looking a bit better for bulls than yesterday.
We have broken some short-term trendlines to the upside, but this does not mean that the downtrend is over and not by far. The pair is till very much under pressure and I'd say that the break of 1.3665 area would be the first solid sign for bullish outlook. Is the German ZEW (if positive) going to take us there? Unlikely. The key event for this week is FOMC and before that any major break would be highly suprising, if I may say so.
We have broken some short-term trendlines to the upside, but this does not mean that the downtrend is over and not by far. The pair is till very much under pressure and I'd say that the break of 1.3665 area would be the first solid sign for bullish outlook. Is the German ZEW (if positive) going to take us there? Unlikely. The key event for this week is FOMC and before that any major break would be highly suprising, if I may say so.