The Euro fell during the trading session on Friday, as we reach towards the 1.1750 level underneath, an area that has been a bit supportive in the past, but ultimately I think that we are to go much lower. I think that rallies at this point are selling opportunities as it is clear that we are in the downtrend, and we should then break down to wipeout the entirety of the most recent high move. By doing so, I think the market will target the 1.1550 level, and then perhaps even the 1.15 handle. The US dollar continues to be the strongest currency that I follow overall, and I think that should continue to benefit the downside in this pair. Interest rate differential will continue to be a major factor as well, and I have no interest in buying, at least not until we break above the 1.21 handle, or we form some type of longer-term buying signal.

for more analysis: [ Ссылка ]

свернуть