Well, so
much about a correction being about to begin. EUR/USD made a ninety pips drop
in the past four hours alone, broke below all supports and fell below 1.2600.
Frankly, I was expecting that it might fall, but not that much. I think we can
safely conclude that the bearish EUR/USD trend is definitely not exhausted yet.
The way I see it, the next target should be at least 1.2500, although the way
things are going, it might break even below that level. The question is just
how much lower it can go, because correction really should begin sooner or
later.
EURUSD tried to rally during the course of the day on yesterday session, but failed near the 1.27 level. This level ended up pushing market back down and forming a doji, which of course represents indecision in the market. The EURUSD is likely to take a pause, but a break below yesterday low could push the pair towards the 1.25 level given enough time.
ReplyDeleteAnything seems possible now after today.
ReplyDeleteIt just keeps dropping like a rock.
ReplyDeleteThe dollar continues to climb free.
ReplyDeleteThe euro is still going down.
ReplyDeleteInformative post .
ReplyDeletegood point of view
ReplyDeleteNice stuff. Keep it coming.
ReplyDelete