Yesterday
EUR/USD failed to break above the resistance at 1.2570 and began descending
again, clearly in an attempt to test the support around 1.2250. Personally, I
am uncertain whether there is enough volatility in the market for it to break
below that support. I think that we might see continuation of the range that
has lasted for several weeks now, and the situation might drag on at least
until the beginning of January. Of course, if the pair does break below that support,
I expect it will continue on its way down to 1.2200, perhaps even lower.
Excellent Analysis!
ReplyDeleteI agree with your view.
Perhaps, let's see how this pair would react last day of the week.
ReplyDeleteGreat assessment. I'll keep a close eye on it.
ReplyDeletegreat analysis, thank you
ReplyDeleteBears are in full power.
ReplyDeleteCaution is the watchword!
ReplyDeletehuge drop
ReplyDelete