FX:EURUSD Euro Fx/U.S. Dollar
Today, Euro fell just 1.4bps short of testing another critical on really no news. While is at 8 month lows, the technicals still support to the downside. Draghi is speaking Wednesday morning. On Thursday, we have a slew of EZ and production data followed by speeches from 4 Fed-heads - Bullard (Hawk), Lacker (Hawk), Evans (Dove) and Dudley (Dove), all before 12:30pm! Expect plenty of volatility and remember there's no straight lines in the market. Every recent large drop in Euro has seen ~50% retracement, which has corresponded to ~0.5% bounce off the low. Take profits at targets and be prepared for bounces! Good luck!