As expected we have not even started the week and the ECB's heads are trying to talk down the euro but so far, comparing with last week reaction to their words, lets just say they had little success.

I guess they will only take action when the level of pain is reached and we can still see EUR/USD exchange rate at 1.4 before this dumb heads will take action instead of just words. But for now lets just enjoy the show.

This morning we had some comments even from German Finance Minister Schaeuble who said "further euro strength could have negative effect on the economy".

Also ECB's Noyer said "weaker euro is desirable" nothing different in their rhetoric from last week.

As I said in my previous blog post I think that time for talk has gone and now the market wants real action and it's time for Mario Draghi to hit the printing press

Best regards,
Daytrader21
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