- The EUR/USD currency pair has done very little yet again during the day on Thursday as we continue to hang around the parity level.
- The parity level is an area that I think will continue to be a bit of a magnet for the market, as it is a large, round, psychologically significant figure, and a lot of people will be paying close attention to it.
- The market is going to continue to see the noise more than anything else and see the idea of the parity level as a bit of a difficult number to get your head around.
EUR/USD Bear Market
That being said, the Tuesday candlestick has told us just how bearish this market truly is, 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. The European Union of course has to worry about the overall economy in the European Union this winter, as they will have to worry about energy, and we are already starting to see concerns about manufacturing shutting down.