Euro has picked more steam since yesterday sell of specially after Fed comments that they may be ending the bond purchase programme sooner than 2013. Fed’s comment has made dollar strong against basket of currencies where it is gaining strength. However single currency’s economic downturn is looking to ease off on more macro level during the month of December according purchasing manager index data which is released on Friday but private sector activity is still showing contraction for 11 straight months.
Technical Analysis
Comments: EURUSD is strictly following its downward trend line however most important signal is coming from RSI which is showing negative divergence as compare to price which is always good odd enhancer for trend reversal
Key levels
1.317
1.3125
1.308
1.3019 last
1.299
1.297
1.2935
DISCLOSURE & DISCLAIMER: The Above Is For Informational Purposes Only And Not To Be Construed As Specific Trading Advice. Responsibility For Trade Decisions Is Solely With The Reader.
by Naeem Aslam
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Euro In Free Fall But In Important Support Zone
Published 01/04/2013, 07:24 AM
Updated 02/02/2022, 05:40 AM
Euro In Free Fall But In Important Support Zone
Fundamental Analysis
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