EUR/USD is back in the 1.4630s with modest resistance in the 1.4650 area capping rebounds.
Traders expect this week to be one of dwindling liquidity as interbank traders wind down their activity ahead of year-end. Bonus numbers are locked in for most, so taking risk offers little possibility for reward. This will markets thin and ripe for manipulation by nasty hedge-fund types.
Best case scenario is for sideways markets while the worst case scenario is for markets to break key technical levels, only to reverse. These next few weeks will be very tough indeed…
