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EUR/USD edges off lows as European stocks (Ex France) steady

With the exception of the French stock markets, the European indexes are trying to rebound a little right now. Earlier the FTSE 100 fell to 8,183 and the DAX fell to 18,376. Well, both of those are well off their respective earlier lows right now and that has seemingly helped to lift the EUR/USD and GBP/USD sightly at the same time. However, it should be stressed; that this is not necessarily a definitive move by any means. So, as such it looks merely corrective and could also be part of a gap-filling exercise, remembering the EUR/USD had not traded to below 1.0788 for some while recently. As to whether the Euro will fill that gap today does remain in doubt too. Even if it does, in the short term it looks like the EUR/USD might be a sell on rallies. Perhaps the one caveat to that could be the Fed policy decision being a likely factor holding the dollar from charging away ahead of Wednesday evening- we shall see. The EUR/USD is currently trading at 1.0760
 

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