Despite the
large spike to the upside that EUR/USD formed yesterday after the results of
the presidential elections in the USA came out the pair not only retraced
after that and formed a whipsaw but it continued moving to the downside. It is currently back
to testing the support at 1.0900 and it is very likely for it to break below
that level eventually and continue dropping towards the previous low at 1.0850.
A breakout below that support level in turn would be a signal for a further
move to the downside towards the next support at 1.0800 or even towards 1.0700.
So far, however, I believe it is too early to consider parity.
It's still very bearish.
ReplyDeleteI believe it will decline!
ReplyDeleteThe pair dopped even lower.
ReplyDeleteInteresting info, thank you for sharing.
ReplyDelete