EUR: Market gearing up for big move in coming weeks

There are a lot of EUR traders in the market who have been sitting patiently waiting for today’s ECB meeting to pass before deciding on their next play and, at least in my trader fraternity, the vast majority of traders seem to have a bearish bias.

I find this somewhat surprising given that most of the big banks are pointing to heavy pro-EUR flows but even today I read one piece from a big British bank which said that flows remain net EUR positive yet they see EUR/USD at 1.22 by the end of 2013. Something doesn’t seem to add up there.

Whatever happens, I think traders will start taking more aggressive positions starting from next week.

  1. Good evening Sean,

    My overnight was terrible, i got 39.5°c of fever. Impossible to get up early. Anyway, we have had some volatility on EUR/JPY.

  2. Like i said,this year am not trading on a daily but available for selection on such risk events 🙂 Looking for the easy money(what did’ya call it?the retirement trade?!)That one!

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