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The potentially big week ahead for the EUR/USD

All last week it was the Japanese Yen that took centre stage in the markets. This was all due to the inference of BOJ comments, suggesting a removal of the current yield curve control (YCC) was soon to take place and a hike in rates would accompany that shift. The detail on all that was covered here last week, so I will not repeat all the history here. This week it might be a different ball game though, because we have important monetary policy decisions from the Fed, SNB, BOE and ECB. In saying that, very few, if any analysts expect changes from those 4 Central Banks and that is the most likely outcome, but at the same time, they are all live events, for reasons I will explain in articles to follow this week. So, on Friday afternoon, the EUR/USD did take out its 100 day moving average (then at 1.0764) on the downside, when it dropped to a low of 1.0724, following the release of the US November jobs report. It later closed in the US at 1.0763, hence ever so slightly below that moving average. It is hopefully going to see some price action later this week, if not before. So far today the EUR/USD has held a range covered by 1.0752 to 1.0774, as it straddles that moving average. It is just now trading at 1.0763 
 

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