01.31.2022

Month end is always a complex time, but it seems we are seeing the pair carving a base around these levels.

ECB this Thursday could mark a PIVOT point as now most traders are pricing in a 0.25 HIKE BY DECEMBER:

*TRADERS RAISE ECB RATE-HIKE BETS TO 25 BASIS POINTS BY DECEMBER

DAILY CHART: we continue to expect a corrective move higher.