EUR/USD Price Forecast – Euro choppy on Tuesday again

Don’t forget, today is Independence Day in the United States and this of course will be very impactful when it comes to liquidity. The market has been trying to grind higher in the EUR/USD pair, but it has not been easy. The question now is whether we are simply going to bounce around the 1.1650 level, or if were going to make a bigger move. I suspect that consolidation makes more sense than anything else, as traders around the world awaits see what the next volley in the trade war will be.

With the United States away for the day, you can probably count on a severe lack of liquidity during most of the session, and this should keep the market relatively quiet. Otherwise, a lack of liquidity could exacerbate some type of shock crossing the headlines, but that is something that’s very difficult to prepare four. I believe that ultimately this pair will grind around in sideways and quiet trading during the day. Thursday will also be somewhat quiet for Americans, but we will see a bit more liquidity in the market. Overall, I think that when you look at the longer-term charts you still should probably favor the downside, although certainly you need to see some type of exhaustion or break down to start throwing money in that direction. If we were to break down below the 1.15 level underneath, that would be very negative for the Euro.

EUR/USD Forecast Video 04.07.18