the U.S. and the Eurozone economies are at different points in their economic cycles: while the United States has begun the process of exiting its Quantitative Easing (QE) program that has been in place for years, the ECB is merely hinting at taking a more aggressive stance.
To understand it the best thing you can do is to imagine yourself in the situation where you have researched a market and need to make a decision on where you believe the market will go over a specific period of time.
There is a lot more happening than just weather in the United States: China purchased nearly half a million tons of new crop from us, Argentina is on the brink of economic failure and export inspections came in above expectations.
look at a weekly chart reveals that we are, at present, approaching the trend line that has acted as support for the past two years. The next couple of sessions will show if this level can hold or if we’ll see a trade lower to the 61.8% Fibonacci level.