The models are broken
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
Head of FX Strategy
Summary: Many currency pairs are pinballing around with no sustained directional conviction at the moment, a treacherous environment for momentum traders. EURUSD has been Exhibit One for this kind of behavior for months.