I admit I’ve said the same thing before in recent months, and I’ve also said exactly the opposite, and each time the demon range-trader has come out to make a liar of me. But here we go again. The EUR/USD just doesn’t seem to want to dip at all and with the market almost overwhelmingly bearish it seems, I’m thinking we might get a nasty squeeze to 1.4050/1.4100 in the next 10/14 days.
EUR/JPY looks well supported, EUR/GBP technical support has held and there have been reports of heavy bids-on-dips for EUR/AUD. If the crosses are well bid then EUR/USD seldom falls.