The Euro fell quite firmly last week to reach a new 5-year low against the US Dollar. The low of the week was only a few pips higher than the 19-year low. European currencies are generally weak, and the Euro is of course the major European currency.
We see a bit of a lower wick in the weekly candlestick, and of course there is likely to be support kicking in if the price reaches the 6-year low at about $1.0335.
With a still-strong US Dollar, the price here looks likely to fall further over the coming days. However, bears will ideally want to see a down day on Monday, with a New York close below $1.0378 before entering a new short trade.
I will be prepared to enter a new short trade if we get a daily (New York) close below $1.0378.
We see a bit of a lower wick in the weekly candlestick, and of course there is likely to be support kicking in if the price reaches the 6-year low at about $1.0335.
With a still-strong US Dollar, the price here looks likely to fall further over the coming days. However, bears will ideally want to see a down day on Monday, with a New York close below $1.0378 before entering a new short trade.
I will be prepared to enter a new short trade if we get a daily (New York) close below $1.0378.