On the
weekly chart below of the EURJGBP we can see that the price has been falling at
a constant rate since it broke the support level at the 0.8200. At the end of
this week, it seems like the pair is going to close around the 0.8100 level.
This level could act as a good support area if the fundamentals for next week
help support the Euro. Therefore, we may see a bounce to the upside from that
zone.
However, if
the fundamentals come out worse than expected, then we may see more red on the
pair and the price may break below the 0.8100 level; especially if the European
Central Banks keeps talking about an interest rate cut and more economic
stimulus for the European Zone. The next support level below the 0.8100 is the
0.7958.
Good point!
ReplyDeleteIs already below 0.81.........
Until the 5th on June I do not see any change in the current situation.
ReplyDeleteIt's like playing battlefield when you sink the aircraft carrier
ReplyDeleteIt has plenty of space to continue to go down.
ReplyDeleteWe wait for Graghi´s speech and will have lots of movementt!!!!!
ReplyDelete