EUR/USD Price Forecast – Euro Continues to Grind Slightly Higher

The Euro has been on a whole lot of nothing over the last several weeks, and as we head closer to New Year’s Day, it looks like it is going to be even less ground that will be covering. This makes quite a bit of sense, because most people are not worried about trading right now, they are worried about holidays and the like. The next major announcement will be the jobs number in January, and quite frankly I do not see any reason why this pair will move between now and then. We currently have the 1.1375 level as resistance, just as we have the 1.1225 level as support.

EUR/USD Video 29.12.21

The only use I have for the Shah right now is to tell me roughly what is going on with the US dollar, but even that can only be taken with a grain of salt. Most pairs are very quiet at the moment, and the Euro is by far the worst of them under normal circumstances. I anticipate that we are simply going to bounce around the 1.13 region the next several days, and then as we closer to the nonfarm payroll numbers next week, we may start to see a little bit of momentum. Until that happens, I am not putting any money to work because quite frankly is just not worth it. The Euro is a pretty grinding mass under the best circumstances, and during this time a year it is almost impossible to trade. Because of this, I will simply observe this for the next week and ½ or so before putting any money to work here.

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