Today EUR/USD continued to decline during the US session falling to the area below 1.0640 as the Euro uptrend faded into ether. The Euro (EUR) is at its lowest price against the Greenback (USD) in six months.
With the Euro continuing to slide to new six-month lows, EUR/USD is set to plummet lower if buyers cannot mount a relief rally from here.
Looking at the 1D diagram we can see that the trend line is still in a bearish trend so we will probably follow that plan. If that happens, EUR/USD will likely move towards the next meaningful support area which would be 1.0550.
With the Euro continuing to slide to new six-month lows, EUR/USD is set to plummet lower if buyers cannot mount a relief rally from here.
Looking at the 1D diagram we can see that the trend line is still in a bearish trend so we will probably follow that plan. If that happens, EUR/USD will likely move towards the next meaningful support area which would be 1.0550.
Comment:
According to the information I just updated: At the time of the survey, DXY measured the fluctuation of the greenback with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) down 0.08%; at 105.32.
