EUR/USD found itself going back and forth in a range on Tuesday, but ending the day slightly bearish. With the EU summit being held today, it is hard to imagine that this pair will continue to sit still for much longer. The markets will show what they think about the results fairly quickly, and we think that a break of the bottom of the Tuesday doji shows that the trend continues downward. If we can see a break of the 1.40 level on daily close - this would show real strength.
EUR/CHF continues to fall, even though the Swiss National Bank is threatening intervention if the markets fall below 1.20, just 200 pips away. This shows how little the markets trust the Euro in our eyes, even if the EUR/USD has been rising.
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