The Euro has done very little yet again during the day on Thursday as we continue to hang around the parity level.
, and I think that the Euro will continue to be like a punching bag for almost everybody. This is especially true for the US dollar, as it is the strongest currency that I follow right now, and I think it’s going to continue to be as there is a lot of risk-off behavior out there.
While the ECB pretends it will be very tight in the future to fight inflation, the reality is that it won’t be able to do so aggressively. The economy in places like Germany just will not be able to handle that. Because of this, I think it’s only a matter of time before all rallies get faded, and we see a lot of negativity back in this chart. Theis sitting right around the 1.0150 level and is dropping.
I will not be a buyer anytime soon, and I think that the bearishness will continue for quite some time.
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