The 200
period exponential moving average can at time behave as a very good dynamic
area of support or resistance. That is why we are seeing on the weekly chart of
the EUR/USD that the pair has reached its 200 EMA and it has stopped for now
its decline there. The price may close for the week around the current levels,
but we must be attentive to next week’s moves, because we could either see a
breakout or a bounce from the current 1.3424 zone. If the price keeps dropping,
then a visit to the 1.3400 level could be interesting.
EUR in the danger zone!!
ReplyDeleteIt is an undeniable fact that Europe is experiencing a general slowdown in growth and the turmoil in the region does not slow down.
ReplyDeletethere is no support on the EUR to regain its stregth
ReplyDeleteNice post, thank you very much.
ReplyDeletevery interesting analysis
ReplyDeleteexcellent post
ReplyDeletegreat information on eur thank you
ReplyDeleteGreat post. I fully agree with your view.
ReplyDelete