Things look to have settled into a range. That will please some players, including, I’m told by Drew Niv from FXCM (see story), many retail punters; but not others, such as the trend followers. In an attempt to stem my growing reputation of being a reverse indicator, I decided to look at options and see if there are any clues for where the dollar might be going.
A chart of one- and three-month implied EUR/USD vol seems to reiterate that the market is range bound.
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