Top five forex seasonals April 2016: #4 a headache for Draghi
April is the second-best month for the euro
The forex seasonals shine on the euro in April. EUR/USD has averaged a 0.6% gain since inception in April, making it the third best month on the calendar.
Two years ago in EUR/USD the pair was a massive frustration to the bears as it climbed to 1.40. Last year it bounced from support at 1.05 mid-month and then soared to 1.13.
So far in March, it rallied the highest since October at 1.1438 only to reverse lower to 1.1347.
What we know is that the ECB has largely played its hand and wants to wait-and-see. They might be encouraged by better global growth as well.
Finally, watch for a turn late in the month because May is weak seasonally and EUR/USD has fallen for six straight years in that month.