The 19 largest US banks will get their stress tests results today…expect them to start leaking out before long.
EUR/USD has pulled back below the 1.3360 level after the market failed to make any headway on the upbeat ISM data and Bernanke comments. Looks like the market has a few too many on board at the moment and needs to digest the one’s they have before buying more. Stops are eyed below 1.3325 near-term. We trade now at 1.3351.
A break of the 1.3325 area would signify a double-top is in place on the short-term charts. A pullback to 1.3210 would be the measured move objective. 1.3325 is coincidently the 50% retracement of the rally from 1.3210 low Monday morning to today’s 1.3439 high.
