The Euro
versus the Dollar has been dropping steadily during the last few weeks and
reaches the 1.0521 level as shown on the daily chart. The bearish momentum has
been strong, but at the current levels, the pair may try to pull back or
retrace to the upside. The 1.0500 zone may act as support, but if the pair
continues dropping, probably after a small retracement, then it may visit the
1.0400 level. To the upside, the next resistance zones could be the 1.0600
level, followed by the 1.0700 level.
Very interesting! Thanks!
ReplyDeleteWe may see a pullback before another move downward.
ReplyDeleteUnder impressive selling pressure.
ReplyDeleteReaching parity becomes an ever more real possibility.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteIt rebounded from 1.0517.
ReplyDeleteInteresting view on markets.
ReplyDeleteVery useful article.
ReplyDeleteThe pair's short term correction might go up to 1.07.
ReplyDelete