20.05 - EUR/USD is at HUGE risk today
- by Anna K.
Even though it has only been a few hours now that the markets are open for the new trading week we already see that EUR/USD is not going to allow us easy trading – there is still going to be a lot of turbulence and a lot of falls for the couple for no apparent reason. Seems that traders are still not ready to trust EUR/USD and even during minor reports like German consumer inflation which is a report indicating how much producers are asking for their goods – the more they ask, the more consumers are ready to pay and the more money are taxed. This is a VERY minor report but we still see that EUR/USD is slipping at the possible sight of it.
In a few hours that the currency markets have been opened we have been seeing the slip of the couple that is indicating that the recovery that we are so desperately waiting for is not going to come easy. We either are going to have to wait or lift the couple ourselves which is a very risky business.
As no one is going to risk their own money and buy EUR/USD it seems that we are stuck with the failing couple. And the more we wait the worse the situation is going to become. And right now trading signals is the only thing that can give us clarity over the situation.