EUR/USD: Mixed expectations ahead of ECB

• Most reports suggest that the market is sitting short of EUR/USD;
• Majority of analysts say ECB will not cut rates but we may see sterilisation of SMP;
• EUR crosses are mixed with the single currency recovering against the JPY and CHF but staying heavy against the AUD and GBP.

My overall bias is to be small long EUR/USD near 1.3710/20 but with tight stops below 1.3670.