Yahoo Finance EUR/USD Price Forecast – Euro continues to grind sideways and going nowhere
The Euro initially tried to rally during the day on Thursday, but then pulled back into yet another tight range. It looks as if the market isn’t ready to go anywhere anytime soon, and I blame that partially on confusion with the Federal Reserve, as some of its comments have changed recently, confusion about the Brexit, and then the end of the year phenomenon of people not wanting to put money to work to keep their books looking rather healthy.
Euro to Dollar Forecast Video 14.12.18
I believe that the 1.15 level above is massive resistance, while the 1.11 level underneath is massive support. I think we stay in that range and quite frankly I’m not interested in trading this pair at all between now and next year. I think this will continue to be very difficult trading conditions just waiting to happen, and I believe that there are far too many headlines out there working against each other to see a significant move. This is the domain of high-frequency trading, and quite frankly should be avoided unless you can scalp short-term charts and are willing to sit at your computer all day.
Quite frankly, there are better markets out there to trade, and I think that the Euro is essentially in a bottoming pattern, which can put the market to sleep for quite some time. I think between now and the new year, we do very little and certainly won’t break out of the range that we have been in.
This article was originally posted on FX Empire
