I think what this means at the end of the day is going to be a situation where we are just fading rallies, which has been the game all along. I don’t like the idea of buying the euro and I think there is a hard ceiling near the 1.05 level. With that being said, I don’t even think we get that far. That doesn’t mean that we can’t rally for some time, and it doesn’t mean that we won’t have a situation where things will be volatile and noisy, but I am looking for cheap US dollars. What I mean by that is that if the market does rally and show signs of exhaustion, then I’m willing to short it. Where am I Watching? 
If we were to break down below the 1.02 level, then I think the Euro goes to parity. I think the Euro goes to parity sooner or later anyway, and really that just speeds up the whole timeline. But I think we are probably due for some sideways bouncing around right now in a consolidation range for a market that of course has been very noisy for some time and sees a major difference between the central bank policies. After all, the European Central Bank has cut rates a couple of times while the Federal Reserve is still on hold. That in itself continues to make this an intriguing position to the downside. More By This Author:Gold Forecast: Sees Massive VolatilityBTC/USD Forecast: Surges After Sharp DropGBP/JPY Forecast: Rallies But Faces Key Resistance
