Eurusd broke finally below 1.3850 and we moved faster now sub 1.36. Key support on daily reamin 1.3430-70 area any close below would trigger more losses.
I see more a consolidation move first toward 1.3850 before blowing up 1.34, unless ECB and Europe can calm down at least over Greece as the move is now triggered for 2 main reasons:
.
So check charts
I see more a consolidation move first toward 1.3850 before blowing up 1.34, unless ECB and Europe can calm down at least over Greece as the move is now triggered for 2 main reasons:
- - Greece failing to meet targets and all debate over ESFS / Eurobonds as all go in same scope debt issues.
- - ECB comments over inflation balanced in 2012 and concern over growth
.So check charts
Your comments too are welcome and you can always reach me on twitter @fx_13.
(Please click on the forex chart thumbnail to enlarge)
1 comment:
Great chart & analysis 13. Agree re: 1.3430 region being key support going forward. Stop hunting below this region as we speak.. To confirm more losses we will need a daily close below an initial close below this region on a daily basis. Odds favour a retracement in the short term IMHO.
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