When you take a step back it’s easier to see the bigger picture and it EUR/USD the trend is undeniably higher over the past year.
The crisis in Europe is over and the recovery has been driven by investment flows. Signs continue to point to a better economy and ECB jawboning is losing effectiveness.
The past few days have show some indecision and that could mean a retest of the trend since last July. Key reports will be Eurozone consumer confidence Tuesday and the Markit PMI a day later.
Euro daily chart
