The Euro
returned to its downtrend versus the US Dollar and drops below the 1.0500 level
to reach a new low at the 1.0461 level. At the moment the pair is trying to pull
back to the upside, but most probably it will close below the 1.0500, due to
the possibility that this level could become a good resistance. Let’s wait and see
if next week the downtrend continues and the pair reaches the 1.0400 level.
From this point on, the pair is heading closer to parity, just like analysts
have been forecasting lately.
Good and clear movement!
ReplyDeleteNo bottom at sight yet.
ReplyDeleteParity may happen sooner than we expected
ReplyDeleteExcellent analysis.
ReplyDeleteThe pair is taking a pause to breathe, on an aggressive pullback we could go to 1.0835 and a break below the 1.05 handle we should continue to the next level of 1.04.
ReplyDeleteThe pair will reach parity soon and I suspect it might drop even lower than that.
ReplyDeleteprice is still in the support range I guess the opening of the week will decide where the EUR/USD will go
ReplyDeleteGreat Information! Thanks!
ReplyDeleteVery useful information! Thanks.
ReplyDelete