EUR/USD Technical Highlights:
- EUR/USD worth sequence suggests new lows pretty quickly
- French election gap-fill and 19-yr trend-line lie beneath
EUR/USD worth sequence suggests new lows pretty quickly
On this low volatility atmosphere, the Euro continues to have the identical previous look it’s had for effectively over a 12 months, that’s bumping its manner decrease, by no means actually garnering any important quantities of momentum. This will likely very effectively proceed to be the case, no less than for a short while longer.
The current rise didn’t fairly make it to the 200-day, September 2018 trend-line earlier than faltering. The Tuesday break of the trend-line off the October low, together with a breach of 11067 tilts the sphere again in favor of these on the lookout for decrease costs forward.
It received’t probably be a momentum-driven transfer decrease, one fairly that form of ‘bumps alongside’, however however the trail of least resistance for now could be clear. It was by no means actually doubtful, however the timing of the subsequent wave of promoting was but to be…