EUR/USD Forecast: Euro Trades in the Same Short-Term Range

The next few days will be very calm and then, so I personally will not trade it and I also recommend you not to. Heading into the new year, the Euro rallied on Thursday to trade at the top of the short-term range we were in. Many people are asking if we are retiring or not. but honestly, I don’t think it matters now. By the time we get to Friday’s US session, most people will be away from their desks, so I wouldn’t get too excited about anything the Euro does. Announcement Trade EUR/USD in good conditions START A break below the 1.06 level could open selling for a bigger move to the 1.0 level. At the 1.0 level, we have the 200-day EMA and 50-day EMA preparing to cross and form a „golden cross”. While I’m not a huge fan of this figure, I understand that some people pay attention to it. A break below the moving average opens up significant selling volume that could pull back against euro parity. On the other hand, if we break the 1.08 level, the euro could target 1.10, maybe even 1.12. I think right now the European Central Bank is probably flying much faster than the Fed, which means they will loosen monetary policy before the Fed. This may not mean it will happen immediately, but eventually we will see the euro sell off again. If traders start focusing on the economy and not so much on interest rates, you can bet that the US dollar will strengthen because it is the biggest safe bet. However, it is not what markets „should” do, but what they actually do. Just follow these instructions and look at these levels as a guide and the market will determine where to go next. Overthinking the market is a great way to lose money and honestly you never know what others have done or even what they are thinking. The next few days will be very quiet and then so I personally won’t trade it and I suggest you don’t either.

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