Good afternoon,
What a market! Volatility is pretty huge and we just had US unemployment numbers which were awful.
Since yesterday's ECB presss conference, EURUSD has been climbing up to 1.3370.
Mr Tichet hasn't told us anything new on the bond purchase program, except that it was not quantitative easing and the ECB has been seen purchasing a lot of paper which gave the strong tone to this EURO.
Now what? We are back at the high post Irealnd bailout (1.3350-60) and it will be interesting to see what will happen from here.
Either the market forgets the mess of the Europan sovereigns and we could continue to correct quite sharply, either they wont be such short minded and use this area as a perfect sell level. (I would prefer the latter..)
In terms of technicals, 1.3380 area is the 50% retracement from 1.3785 down to 1.2965.
Good luck,
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