EURUSD has formed a nice channel after its breakout from just below1.4 to downside with possible floor at 1.3580.
The channel is likely to break after the ECB rate decision. If ECB does not take action, then EURO will bounce to at least 1.3860.
The next 2 days would be interesting. Today, Euro just failed to break 1.3650, the top of the channel.
The retail positioning points to more short side till 1.3480-1.3520
However, ECB failing to reduce rates or continue LTROs will see euro bounce.
It woul…
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