The EUR/USD pair fell during the course of the day on Friday, continuing the bearish pressure that we have seen for quite some time. The market tested the
The EUR/USD pair fell during the course of the day on Friday, continuing the bearish pressure that we have seen for quite some time. The market tested the 1.26 level for support, and did find a slight amount. However, the market certainly seems to be bearish overall, so we are not concerned of the support and believe that the market will continue to head towards the 1.25 level. If we can get below there, the market will then make its way down to 1.20, which of course is a longer-term call. Either way, we have no interest in buying the Euro at the moment.
EUR/USD Forecast October 13, 2014, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
