View RSS Feed

TechnoMeter

EUR/USD Weekly Outlook: Daily Bearish Breakdown; Weekly Reversal

Rate this Entry
by , 06-17-2018 at 12:18 PM (744 Views)
      
   
On Thursday, the ECB's cautious stance on the removal of monetary stimulus sent EUR/USD down sharply, the biggest move in recent memory. This has price support running back to 2015 and the January 2017 trend-line squarely under assault again.

Name:  eurusd-w1-metaquotes-software-corp.png
Views: 141
Size:  37.6 KB

The thinking on this end is that we will see some backing-and-filling in the days ahead as the market digests the impact of Thursday's outcome. This could make for less-than-ideal trading conditions in the very near-term as the euro chops around. Overall, though, the bias right now is that any bounce from here, despite coming from support, is likely to be short-lived.

more...

Submit "EUR/USD Weekly Outlook: Daily Bearish Breakdown; Weekly Reversal" to Google Submit "EUR/USD Weekly Outlook: Daily Bearish Breakdown; Weekly Reversal" to del.icio.us Submit "EUR/USD Weekly Outlook: Daily Bearish Breakdown; Weekly Reversal" to Digg Submit "EUR/USD Weekly Outlook: Daily Bearish Breakdown; Weekly Reversal" to reddit

Comments