The Euro
versus the Dollar has stayed inside a range between the 1.1300 level as support
and the 1.1400 as resistance. The lack of fundamental announcements from the
Eurozone and from the US has kept the pair much undecided. Tomorrow we have the
European Central Bank meeting and speech and probably investors and traders are
waiting for this information before taking any bets on the EUR/USD. Even though
during the last few days we can see a consolidation on the daily chart, we have
actually detected a breakdown of the last bullish trend. However, the price may
try to go back up and if it breaks above the 1.1400 level, it may try to go and
visit the 1.1500. Below the 1.1300, its next important support could be the
1.1200 level.
A lot of volatility during this event.
ReplyDeleteOnce again Mr. Dragui shall try to halt the rise of the Euro.
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ReplyDeleteEUR/USD is testing the support at 1.0900 and if it manages to break below that level it will likely reach 1.0900.
ReplyDeleteAnd we're back to basics.
ReplyDeleteAccording to Goldman Sachs, the Euro could finish the year at 1.0500 if the ECB makes good on its promise of more QE on December.
ReplyDeleteGreat assessment!
ReplyDeleteEURUSD is very volatile
ReplyDeleteI agree with you.
ReplyDeleteprice closed at 2 months low support line, let's see on Monday if there will be a rebound or the price will continue to drop.
ReplyDelete