EUR/USD Might be heading to 1.1200 - Slumpy ride
The Euro has been on a bearish Range, which gives an idea of how investors has been skeptical in their decision on euro.
But the last week Thursday Spike from the 1.1590 overly tested support level, which was then furthered by a very slumpy correction of over 170point on Friday that later got pushed back at 1.1535, reveals that the sellers are very active in the market and will be willing to push the market towards the downward axis of the market as long as their selling power could take them.
The overall outlook on EUR/USD is BEARISH and this would be confirmed by a break below the 1.1530 Support zone which ultimately open a window for the sellers to drive the price lower, probably to 1.1200, and if possible further below.
WatchOut!
But the last week Thursday Spike from the 1.1590 overly tested support level, which was then furthered by a very slumpy correction of over 170point on Friday that later got pushed back at 1.1535, reveals that the sellers are very active in the market and will be willing to push the market towards the downward axis of the market as long as their selling power could take them.
The overall outlook on EUR/USD is BEARISH and this would be confirmed by a break below the 1.1530 Support zone which ultimately open a window for the sellers to drive the price lower, probably to 1.1200, and if possible further below.
WatchOut!