As we have seen these days, the situation is becoming even more difficult for the EURO as the price has already reached 1 EUR = 1 USD.
This is a price level that was seen for the last time on 2002.
The price is for the first time in this strong psychological zone and all market
participants are already focused on it.
In my opinion, we may also see the ECB cross the wires during these days and
announce any quick action to stop the fall below 1 EUR= 1 USD.
So, given the current conditions and the market that is not stable at all
these surprises are to be expected.
Technical price analysis:
Price is testing the support line of a "descending channel" for the third time
The combinations of the support line and price 1 EUR= 1 USD are creating a strange and
stronger consolidation zone at the same time that could push the price back up.
The price should take some time before jumping above the channel.
Thank you and Good Luck!
This is a price level that was seen for the last time on 2002.
The price is for the first time in this strong psychological zone and all market
participants are already focused on it.
In my opinion, we may also see the ECB cross the wires during these days and
announce any quick action to stop the fall below 1 EUR= 1 USD.
So, given the current conditions and the market that is not stable at all
these surprises are to be expected.
Technical price analysis:
Price is testing the support line of a "descending channel" for the third time
The combinations of the support line and price 1 EUR= 1 USD are creating a strange and
stronger consolidation zone at the same time that could push the price back up.
The price should take some time before jumping above the channel.
Thank you and Good Luck!