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Published on Nov 18, 2016
The
Euro continues its descent against the United States dollar, as we are
now obviously reaching towards the 1.05 level. Having said all of that,
the market did bounce a bit towards the end of the day on Friday as
traders took profit. I think that a bounce could be coming but that
bounce should only offer selling opportunities as the Euro has been so
soft. The US dollar is without a doubt the favored currency around the
world right now, so I do think that it’s only a matter time before we
break down. Once we break below the 1.05 level, there isn’t going to be
too much to stand in the way of the Euro trading it parity. I have no
interest in buying, as I believe the issues in the European Union
continue to cause problems.
Forex Analysis, Forex, Technical Analysis, Trading, Forex News, Currency Pair, USD/JPY, AUD/USD, currencies
Forex Analysis, Forex, Technical Analysis, Trading, Forex News, Currency Pair, USD/JPY, AUD/USD, currencies
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