The current range on all pairs is getting annoying. Looking at the USD chart, something will need to happen soon…either bulls break upwards or bears take it down, finally. As you can see, bulls are not having much luck staying above 105. The same goes for EU, where bears have a hard time staying below 400 and for GU, where 2000 acts as a tough support, where price keeps bouncing from. So what now? Looks like we will have to wait for the week to unfold. Its really hard to make a prediction based on the current price action and chart setup. If I had to choose, I would say USD will go down…BUT…we are dangerously close to important support on both EU and GU. We had another bounce from there today, it was the first day of the month, last day of the week and the bounce started before London fix…that should mean something. But next week will need to confirm this…so watch out for next week’s weekly candle.
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