Today is Thu, May 25, 2017 12:35:09 GMT
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Forex Chart of the Day EURO’s Volatility

EUR/USD started the day in London paring gains made yesterday after better manufacturing data eased worries about global growth.  The market was quite subdued until Chinese Premier Wen suggested the possibility of more involvement in the developments of the EFSF and the ESM as well as positive comments regarding the shared currency and the euro zone.  This caused the euro to jump 50pips to 1.3198 before drifting back to where it started which was around 1.3130’ish.  It just goes to show the volatility and sentiment of the market hungry for a clear direction.  In the meantime it is quite entrenched within the range of 1.3020 1.3230.  What may determine a breakout of this range will come from surprising data out of the US or solid news about the Greece deal.  The best and only trading strategy may be to play within this range with stops on the breakout.