The Euro
versus the Dollar keeps dropping due to the fact that now that the Greek dilemma
is almost over, the traders and investors are focusing again on the future
plans of the FED, even more when Janet Yellen said last week that an interest
rate hike was possible for this year. The Dollar has become the focus of
attention once again in the markets. The EUR/USD could not break above the
1.1200 level and drops to the 1.1000 level. On the one hour chart we can see
that the price has done what it appears to be a breakout and pullback pattern
on the 1.1000 level; therefore, it is possible that the bearish momentum stays
in place and the 1.0900 level could become its next support.
It could be at a good turning point.
ReplyDeleteIt's still testing 1.1000 and will likely continue doing so until Yellen's speech tomorrow.
ReplyDeleteIt was expected scenario.
ReplyDeleteGreat analysis! Congratulations.
ReplyDeleteEur/Usd still holds ableve 1.100 level.
ReplyDeleteVery interesting post, thank you.
ReplyDeleteThe euro decline is far from over...
ReplyDeleteThank you for the useful information.
ReplyDelete