DislikedRisk on or risk off matters not in the case of the Euro alone. The moves we are seeing in the E/U pair are because of the USD being bashed on the head over hopes/fears of QE3... which will not happen.
The reason the the E/U pair is choppy is because the Euro is very bearish. Look at it against all other major crosses (GBP, CAD, AUD, JPY). Against those pairs it is on a sustained trend to hell.
So, in a risk on environment, the E/U pair will chop and in a risk-off environment, the E/U pair will tank.
Any positional or swing trader will...Ignored
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