The EUR/USD song remains the same as the Year-end approaches

As covered here yesterday, the price action in the EUR/USD was very tricky. The break above 1.0450 yesterday was not really a break at all, it was just another in a long line of stop loss driven extraction. The subsequent fall to a low at 1.0372 was set right on the 4pm London fix. I think you can all work out the inference of that move. The subsequent rebound into the US close owed much to the rebound off the lows in the US stock markets and the corresponding rebound that delivered in the EUR/JPY. So, the EUR/USD closed last night at 1.0407. The range seen today looks as pivotal around that 1.04 handle again, as it could ever be. That is covered so far by 1.0397 to 1.0415. Of course this is the last trading day of 2024, so it is hard to say what might still show up in terms of last minute orders to impact the price as the day unfolds. There will be more to add in due course. Meantime, the EUR/USD is trading at 1.0403