On 08.30.08 by Benny Nardino
Today’s EUR/USD trading ended in vacillation. The past fews weeks have finally brought the EUR down south. In a thinly traded day like today coupled with low volatily the market produced a lack lustred directionless day.
Trades vacillated between the support of 1.4640 and 1.4767. Morning open saw EUR-USD moves without
trend. It traded around the pivot and moving averages before an attempt to breakdown. This soon short-lived as it traded back to 1.4669 to end the day.
In the mean time, we are still very bearish bias as the outlook for the longterm does not exude much confidence. For now we play the wait and see game on euro. Let us know how you did.
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