EUR/USD dropped after the Federal Reserve announcement yesterday (August 1st). The Fed held back from introducing any monetary easing measures, disappointing the markets. The pair then recovered early in the European session. The ECB will be holding an important policy meeting on Thursday, and the markets will be looking for the powerful central bank to take some concrete action. As well, the ECB will announce its key interest rate, which is expected to remain at 0.75%. Other key releases include the the ECB press conference after the interest rate announcement, the Spanish 10-year bond auction and US Unemployment Claims.
Here’s an update about technical lines, fundamental indicators and sentiment regarding EUR/USD.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-drops-then-recovers-following-fed-inaction/"]EUR/USD Drops, then Recovers following Fed Inaction[/URL][/I][/B]
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