By Elliott Wave International
On December 27, EUR/USD shot up as high as $1.3283. Forex news headlines were quick to comment:
"Dec 27 - The euro slightly extended gains against the dollar after strong U.S. new home sales data last month further lifted the market's appetite for riskier currencies."
But after EUR/USD hit that high, it promptly reversed and fell back down to the $1.3200 level, where it had been stuck all week.
You may ask: What happened to that "appetite for riskier currencies"? Continue reading "Don't Expect the News to Tell You Where EUR/USD Is Going Next"