The Euro
keeps dropping versus the Dollar and it has broken 9 month lows around the
1.3315 level. It just needs to drop a few more pips to visit the 1.3300 round
number level. Due to the fact that the price has not visited that level in a
long time, if we do see a visit to that level, there is a good probability of
seeing a bounce to the upside. But for now investors are focused on the Jackson
Hole meeting and how it may affect the greenback, because if the US fundamentals
keep supporting the Dollar, then we may see the EUR/USD breaking new lows.
Great analysis, thank you.
ReplyDeleteThat's a very helpful analysis, thank you.
ReplyDeletegreat analysis
ReplyDeleteThere is still a lot of potential on the downtrend.
ReplyDeleteI agree there is chance to see euro breaking new lows.
ReplyDelete