Beware getting bear-ed on weakness in EUR/USD…Just when it looks the darkest a force from the East seems to come in to support the pair. They were buyers at 1.4150 and below yesterday and perhaps around 1.4200 today.
One positive comment from Chinese premier Wen and we’ll be scrambling to cover shorts, again.
Equities are bouncing from lows as we write, helping EUR/USD recover from 1.4160 lows. We trade now at1.4177. Small sellers are seen now at 1.4200/05 on rebounds.