I think for at least half a day the EUR will remain bullish. Ofcourse we’ve got the FEDS speech later which could change things one way or another depending on how it sounds. Spain has had its credit rating downgraded which is worth watching. I do feel though that EURUSD is a bit like a rocking boat with no engine and it will take one smack from a whale’s tale to send it into the depths.
So I’m Bullish EUR for a while but I can’t see that being for longer than 4 hours to a day and we’ve just opened the UK Session.
By the way this report of the Cyprus agreement is quite good. (clicky)
Well here’s an hour later since I wrote this..