Data at top of the hour. Euro ready to kick off for the session

Unfolding euro price action

Today's economic calendar action kicks off at the top of the hour with the German GfK Consumer Climate number.

It's our first chance to possibly get a catalyst for some significant price action for the day.

Check out this EUR/USD hourly chart with the daily trend line we've been paying attention to:

Price has rejected off it once again. The setup is basically back to the beginning, so this could be a second chance if you missed the first short, or a chance to bail at break-even pre-news.

Check out the crosses who have just continued to fall too:

There's really no strength at all in the crosses, is there...