I don't know if the PPT is doing anything with the USD-EUR, I was only being cute. But if you're implying the PPT does not exist and is not active, you are naive. Its existence is fact. The evidence for its manipulations in the past is overwhelming.
"State Sponsored" manipulation of currencies explains a lot of weird forex chart patterns. It's hardly a secret that the BoJ manipulates the Yen, for example.
I don't doubt that states manipulate currencies when they can, and that they aren't always open about it. I just don't think it's useful to attribute moves to that. "Noise" might be a better term than PPT. As far as analysis is concerned, they're synonyms.
> I just don't think it's useful to attribute moves to that
Over the last couple years I have seen analysts anticipate and detect concerted manipulation of the gold market and profit accordingly. The proof is in the pudding. It is useful to attribute some major market moves to manipulation by the elites. Though, as I said, I actually doubt there's anything conspiratorial going on in this particular chart.
"State Sponsored" manipulation of currencies explains a lot of weird forex chart patterns. It's hardly a secret that the BoJ manipulates the Yen, for example.