The Euro
versus the Dollar continues dropping and remains weak, but the over-extended
current nature of the pair may cause a bullish pullback or correction from
current levels. On the weekly chart of the EUR/USD we can see that the pair has
been dropping for the last two weeks and breaks below the 1.0600 level. The
next support in sight is the 1.0521 level, but we can round it off to the
1.0500 level. If for some reason the pair breaks below the 1.0500 level, then
it may try to go and reach the 1.0000 level, which is really parity for the
EUR/USD. If the upcoming US fundamentals keep coming out better than expected,
then the EUR/USD may continue falling.
I agree, the pair drop fast.
ReplyDeleteBig drop on the currency pair.
ReplyDeleteIt found some support at 1.0580.
ReplyDeleteThat is an impressive drop.
ReplyDeleteGood analysis!
ReplyDeleteGood point! I´ll be watching to those levels.
ReplyDeleteGreat take on markets!
ReplyDeleteGood assessment! I'll keep it in mind.
ReplyDelete