Prior to the previous EURUSD outlook,
Things are not looking good for EUR/USD, with the currency pulling back beneath the psychologically important 1.1300 level as FX volumes thin and the weekend approaches. Technicians may well view failure to close to the north of 1.1300 as a bearish signal heading into next week. Since EUR/USD broke below a long-term descending trend channel, its not particularly surprising to have seen the pace of the sell-off pick up in recent days. Bearish technicians will have their sights firmly set on a test of the next key area of SUPPORT @1.1150-1.1180 area.
USD is still very much powerful and the bias still goes below. Do not go against trend and observe every risk management measures !
Things are not looking good for EUR/USD, with the currency pulling back beneath the psychologically important 1.1300 level as FX volumes thin and the weekend approaches. Technicians may well view failure to close to the north of 1.1300 as a bearish signal heading into next week. Since EUR/USD broke below a long-term descending trend channel, its not particularly surprising to have seen the pace of the sell-off pick up in recent days. Bearish technicians will have their sights firmly set on a test of the next key area of SUPPORT @1.1150-1.1180 area.
USD is still very much powerful and the bias still goes below. Do not go against trend and observe every risk management measures !