Tradeciety

EURUSD without clear sense of direction

FX:EURUSD   Euro / U.S. Dollar
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Although the trendline is moving downwards, it looks like the EUR/USD is not sure where to go.

Keep in mind, during the Chinese sell-off both the Euro and the USD served as some sort of safe haven currencies which meant that both appreciated. If you have two strong currencies trading against each other, the pair ends up going nowhere.

The USD shows a similar picture. The trendline is sloping upwards but without much force. The Euro futures are trapped in a tight range without any clear direction.

Investors expect a major sell-off from China and equities, which still hasn't happened. Thus, everyone remains in waiting position until some clear signs are given.
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