Into North American trading and more ECB and Fed speakers are on the roster ahead of the weekend with Stark, Wellink, Liikanen & Papademos fighting in the ECB"s corner while Lacker, Plosser & Geithner will follow the FOMC statement with their take on how economic outlook could unfold. On the data front, there is no top-tier economic indicators set for unveiling.
US February Home Sales numbers are due for release at 14:00 GMT (6.31Mln expected). On the options front, 1.3300 expiries at the NY cut at 14:00 GMT generated gamma related demand amid the initial European test of the downside. EUR/USD opened the week at 1.3317 and should the price stick close to current levels then there will be the potential for a close on the week near the above level.
Technically, this would create a Doji on the weekly candlestick charts and signal that further gains could be limited, with lower lows (below the this week low at 1.3273) expected to confirm a chance in direction. Any such reversal of the medium-term bull-trend would need to see 1.3250 support cleared before the downside would look sustainable and not a short-term correction.
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