Monday 13 October 2014

Another Slow Monday for EUR/USD




It is Monday and as usual nothing interesting happens on Monday. The market appears quite calm and the EUR/USD correction slowly continues. As I suspected on Friday that drop was only temporarily. Personally, I think its current target is 1.2870, perhaps 1.2900. That said, I am still not convinced that the downward trend is over and that this is a reversal, so I think I should be on the lookout for signals that the EUR/USD descent is about to continue. I believe that the long-term target at 1.2200 or even at 1.2000 is still quite valid.

7 comments:

  1. Congratulations for the analysis, it´s very useful.

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  2. We could see a pick up in volatility for this week.

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  3. EURUSD fell during the course of the day on Friday, continuing the bearish pressure that we have seen for quite some time. The market tested the 1.26 level and found enough support. However, the market technically is bearish overall but is holding above the 10-day moving average so expect short term bullish correction to continue.

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