It is reaching the bottom of its current uptrend channel, and we consider it will break the channel and go further south. 1.36 is critical Fibonacci level for euro, if the support weak there then euro may have to down to below 1.35 then.
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Sunday, 25 May 2014
Euro trend
Euro is weakened because euro zone GDP in Q1 is disappointing. The crisis in Ukraine may also dragging down its economic growth.
It is reaching the bottom of its current uptrend channel, and we consider it will break the channel and go further south. 1.36 is critical Fibonacci level for euro, if the support weak there then euro may have to down to below 1.35 then.
It is reaching the bottom of its current uptrend channel, and we consider it will break the channel and go further south. 1.36 is critical Fibonacci level for euro, if the support weak there then euro may have to down to below 1.35 then.
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