Today EUR/USD is once again in our focus. And I have to say – for once it is a pleasure to have in our focus a couple that is growing and expected to grow further and not vice versa. After all, we have witnessed so many falls these last few months, that it is only natural that we are going to cling to the growth when we see one. And euro delivers just what we need right now.

Bullish behavior of EUR/USD chart is a result of traders waiting for the speech of President of European Central Bank Lagarde. As head of the ECB, which controls short term interest rates, she has more influence over the euro's value than anyone else. Traders scrutinize her public engagements as they wait for subtle clues regarding future monetary policy of the region. And this information is crucial to the present of our trading. We have been trading through a lot of shakes lately. I think it is fair of us to expect some good news. And we hope that Lagarde is going to give it to us and that the current drop is merealy a retracement of a large bullish scale. 

Of course in case she says something about dropping interest rates or taking measure to stimulate European economy we are going to understand that something is wrong and that is when we are going to start worrying. But we hope that that is not going to happen today.

EUR/USD is going to be volatile ahead of the speech. Although bulls got to the couple now, everything might change rapidly. Use our trading signals to know when the change is coming.