Making a prediction that in the next few weeks we should have support and a rally, just waiting for the big news going to come to market over the next few weeks...
The Swiss unpegging of EUR has accelerated the down move which should see support soon.
The week ahead is huge for EUR - Grexit fears will end next week after election is announced; Draghi will do "whatever it takes" to save the E.U. from deflation with QE plans to be announced soon.
I believe all negative expectations from Grexit and QE have already been discounted by the market. The market is awaiting confirmation which will see support and rally.
However, another scenario of low probability is Greece exiting and defaulting, then price will fall to 1.00 or sub-1.00 with EUR being essentially a currency with zero confidence and utterly worthless.
The Swiss unpegging of EUR has accelerated the down move which should see support soon.
The week ahead is huge for EUR - Grexit fears will end next week after election is announced; Draghi will do "whatever it takes" to save the E.U. from deflation with QE plans to be announced soon.
I believe all negative expectations from Grexit and QE have already been discounted by the market. The market is awaiting confirmation which will see support and rally.
However, another scenario of low probability is Greece exiting and defaulting, then price will fall to 1.00 or sub-1.00 with EUR being essentially a currency with zero confidence and utterly worthless.