EURUSD Expected to go sideways todayThe euro's dance with the US dollar last Thursday painted a curious picture - a spirited attempt to soar, only to stumble in the face of market fatigue, as if gravity suddenly remembered its role in the financial theater.
This fatigue is not a solo act; it has accomplices. The Euro's recent appreciation has exceeded its limits, like a rubber band being stretched too far. And the timing? Well, this is not only a festive season but also a season of financial scarcity. Liquidity tends to play hide and seek during this time of year, leaving the market feeling a bit dry.
The market's recent trajectory has been like a rocket's flight - a surge that now appears to be paused in mid-air. This vacation isn't just about relaxing; It was a sigh of relief that echoed throughout the boardroom and trading floor.
Oh, the holiday season! Nestled amidst the echoes of Christmas and the countdown to the New Year, this is the time when market dynamics take on a different tune. Famous traders, like children eagerly waiting for the last fireworks to go off before the show's finale, choose to sit this one out. There was a unanimous decision to stay trading for a while, thanks to the ongoing holiday mood.
