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Showing posts with label downtrend. Show all posts
Showing posts with label downtrend. Show all posts
EURUSD downtrend continues. How far it will go?
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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