Here’s how EUR/USD will play out
It’s gotta move one of these days, right?
Here’s how it will play out, to the best of my crystal ball reading skills.
European news will continue to worsen. EUR/USD will fall gently in its range, supported by buyers on dips all the way down.
The bad news will mount but retail traders will ignore it as noise, assuming we will have another snap-back rally toward 1.32; the rinse/repeat we so often see in range-bound markets.
But one of these times it’s gonna go, and its gonna go without the little guy on board. In fact the little guy will probably get croaked. He usually does when the market begins to trend.
Watch the tone of the commentary from ForexLive readers to gauge when the big move is imminent. The more confident the dip-buyers become, the more likely we are to break lower.