Friday, 5 December 2014

The EUR/USD Bearish Trend Continues




As I suspected yesterday the bearish trend of EUR/USD is not even remotely over and today’s US non-farm payrolls just pushed the pair even lower. It is about to break below the support at 1.2270 and after that there will be nothing stopping it from reaching 1.2200. Once it reaches 1.2200 we will watch it for signals that it is heading for 1.2000, or even 1.000, although at this point I am still wondering whether that is not too generous a prediction. Either way, the euro is in a freefall and Draghi’s efforts yesterday apparently had an only temporary result.
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8 comments:

  1. Unknown5 December 2014 at 10:07

    Thanks for the relevant and useful information.

    ReplyDelete
  2. Anonymous5 December 2014 at 12:17

    I fully agree with your assessment.

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  3. Unknown5 December 2014 at 12:29

    I fully agree with you

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  4. Unknown5 December 2014 at 15:07

    1.22 might be hit before the year end.

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  5. Unknown5 December 2014 at 19:32

    a lot of movement on the EURUSD.

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  6. Unknown6 December 2014 at 09:35

    Very nice article. Thank you.

    ReplyDelete
  7. bewayopa6 December 2014 at 15:05

    Great analysis! I have to be very careful with EURUSD.

    ReplyDelete
  8. Unknown6 December 2014 at 18:28

    Will it continue next week until 1.22?

    ReplyDelete

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