• Steady after a third lower daily close - down 0.1% with the USD up 0.05%
• Gloomy German Gov't economic forecasts, and German consumer sentiment
• A fully functioning German government needed to reverse the negative outlook
• ECB fully priced to cut 25pt today - Statement, Press Conference key for EUR
• Charts - neutral daily momentum studies, expanding 21-day Bollinger bands
• 5, 10 & 21-DMAs rise, neutral weekly moving averages - modest topside bias
• Targets a break of the 1.0535 December range top and test 1.0630 Dec high
• Close below Jan 23rd 1.0372 base and 1.0357 21 DMA ends the topside bias
• 1.0400/05 2.323 BLN, 1.0425/40 2.194 BLN close Jan 30th strikes
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)