Case Study Part 4: EURO still going down
We are now gaining 50+ pips, as the EUR/USD pair continues to drop, leaving a nice downtrend pattern. The week ends with the major currency pair pricing at 1.2920 – 1.2925, the same opening price zone. The pair bottomed at 1.2905 and bounced back to 1.2950. It seems that the pair is capped there since it is still going down when it failed to break the 1.2950 resistance. According to Forex Analyst the bloc pair is still bearish and it is a bit overbought.
Insight this week is that the EURO will continue to fall and might break through the:
Or on the upsideEUR/USD will rise and reach: