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- I Doubt There is Room for the Euro to Fall Further
I Doubt There is Room for the Euro to Fall Further
Traders believe that the Euro is going down, but I am not sure yet. Debates over the avoidable crisis in the American economy, the tense situation in the labour market, and a sharp increase in interest rates in the U.S. have created risks for the US Dollar. Therefore, I believe that the growth of the Dollar is ambiguous, which means that the Euro is unlikely to fall further now. I believe the single currency is stuck in the range of 1.0660 - 1.15. If so, the best option would be wide range trading. There is a risk that the Euro will continue down, of course. The desire of investors to make quick profits on record growing Big Techs and the belief of a recession in the United States are unlikely to lead to a repeat of the situation seen during the “dot-com bubble” in 2000, which ended in many defaults. In the case that this is repeated, the Dollar will rise and the Euro will fall. But as long as uncertainty remains, I bet on a side move for EURUSD.
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