"As for the euro, it's quite an outsized move but it speaks to the level of disdain against the dollar at the moment I guess. At some point in the next few sessions though, you would think that traders will come around on this with regards to the euro. I mean the ECB won't like a higher currency amid a hit to the global economy and a trade war with tariffs flying about. So, that's something to consider."
The first wave of the market reaction saw the dollar slammed hard. But now perhaps we're starting to see markets readjust and liquidity start to slowly trickle back in.
EUR/USD may be a little lower on the day but the near-term chart above still shows buyers well in control. A drop below 1.1000 will give sellers some incentive though before wrapping up the week at least from a technical perspective.
This article was written by Justin Low at www.forexlive.com. Read More Details
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