EURUSD and BEN’s non-speech.

The markets were not impressed by Fed’s Ben avoiding monitory policy. Here’s why. I think BEN was on purpose not talking about it, although there WERE bad figures, there was better than expected employment figures. A lot of things are fuelled by employment. For example…if more people work more people earn and more people spend. So next month I think things will be quite different and probably quite bearish from the EUR.

At the moment it burst up through the top of my trend *BUT* my feelings are that this is a false break and that we will see a bearish move on Monday to help form a bottom of the bearish chart. But ofcourse I could be wrong. Don’t forget that Cyprus is not over yet and there are quite a few sleeping dragons in the EUR group who are in danger. ¬†Slovenia, Luxembourg etc etc.

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