EURUSD: We probably have to pass today’s main event, ECB, beforeany major move will take place. Strictly technical the risefrom Tuesday’s low point looks like a minor bear flag hencecalling for a new trend low (the case will gain a lot ofcredibility below 1.3123) but on the other hand the stillsevere stretch (55d Bollinger bands has not been outsidethe 233d one since the Dec peak last year) is a clear warningthat un upside reaction lurking around the corner.
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