$EURUSD & the markets

kevinmhughes

I believe the markets have received their well deserved break.  Equities are essentially flat while the dollar splurged this week.  Normal cycle in my opinion.  Right now the $EURUSD cross is trading at 1.4850, down nearly 100 pips from the London open ($USD strengthened).  It has been hovering in a 20 pip range now for a while and I don’t see any monumental move coming in the remaining hours of today.  Next week is Thanksgiving and while some traders will be taking off to spend time with their families I believe the market will make some nice moves in anticipation of December action (which may be crazy.  Most of the public believes there won’t be any moves b/c of traders taking off, but as @upsidetrader pointed out this morning, Thanksgiving week has seen some moves on low volume.  My view on the $USDX is still the same, it will weaken next week on the the stock market pushing to the upside.

TOS EURUSD


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