I think we will see a generally muted response for the rest of the month with the EUR ranging for a while, mild consolidation with an extended sideways trade range.
The FOMC news was not negative, it just lacked clear intentions to raise rates, that and the double talk coming from them about the state of economy is making them have to sell a long period of adjustment. I think the bias is still down, this is why you keep your purchases low and your stops wide, we might
see 1.26xx but i don't see change here in trend yet, i think with Draghi speaking at the end of the week we will still see a downward trend.
For what its worth all my charts show a clear path down now, usually its when you are most shaken that the path becomes clearest for the market.
I still won't do anything, I think a clear reversal is not in the cards.
The FOMC news was not negative, it just lacked clear intentions to raise rates, that and the double talk coming from them about the state of economy is making them have to sell a long period of adjustment. I think the bias is still down, this is why you keep your purchases low and your stops wide, we might
see 1.26xx but i don't see change here in trend yet, i think with Draghi speaking at the end of the week we will still see a downward trend.
For what its worth all my charts show a clear path down now, usually its when you are most shaken that the path becomes clearest for the market.
I still won't do anything, I think a clear reversal is not in the cards.
... well the 2510-40 must be the parking price tonight, no surprise if next morning we wake up and we get 2520...
