Peter Smith
EUR/USD has become a trader's nightmare - all chop, no direction. For a pair that usually moves markets, this is starting to feel personal.
The Chart Doesn't Lie
B Trader recently called it "useless," and honestly, it's hard to argue after watching days of sideways grinding. Pull up the 15-minute chart and you'll see the problem immediately. Price is locked between 1.1710 and 1.1775, going absolutely nowhere. Every attempted breakout gets slapped back down within minutes, leaving frustrated traders on both sides. The candles overlap, reversals come out of nowhere, and there's zero conviction anywhere. Support at 1.1710 keeps holding, resistance at 1.1775 keeps rejecting - it's a perfect recipe for chopped-up accounts.
Why Nobody Can Move This Thing
The Fed and ECB are both playing it safe, so there's no real policy divergence to trade. Forex volatility is dead compared to crypto and commodities - we're talking historically low levels here. And everyone's just waiting. US jobs data is coming, Eurozone inflation numbers are due, and until those drop, nobody wants to make the first move. It's a standoff.
Break above 1.1775 with conviction and we might finally see 1.1820. Drop through 1.1710 and 1.1650 comes into play. But until something actually catalyzes movement, expect more of this sideways torture. For now, the most liquid pair in the world is also the most boring. Sometimes the best trade is no trade at all.
Peter Smith
