The down trend of Euro is continuing for more than 30 weeks. At peak EURUSD was traded at little less than 1.4000 by May this year. From then onward a study downhill follows.
As of now it trading at 1.2370 a 100+ pips recovery from yesterdays low of 1.2240. But again met the resistance point 1.2250 it seems. As no proof of any strong reversal, it may not be a surprise if EURUSD touch 1.2000 in forthcoming days.
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| EURUSD Weekly Chart from 1st Jan until today, downtrend continues. |
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