EUR/USD has given up about 10 pips in the two hours I’ve been sat here, presently at 1.2280.
Market now awaits Bernanke’s Congressional testimony later today/tomorrow. Very poor US retail sales data yesterday has helped raise expectations he’ll signal more monetary stimulus. Talk circulating that we could be about to see a deposit rate cut ala ECB.
Talk trailing sell stops now gathered through 1.2275 and more through 1.2240. On the topside, buy stops seen through 1.2315.
