Near Term Trend: Neutral
Friday’s Close: 1.11566 (- .90 pips)
UPDATE: Weeks ago we stated, “Key resistance at the 1.13250 region should act to contain any further advancement by the Euro”.
Subsequently the Euro hit resistance at our internal black line twice within seven trading sessions and then failed to settle above the line. As a result, the subsequent sell-off was an indication the Bulls began liquidating.
NOTE: Plenty of support under current price down to the 1.0950 region, but Euro is struggling.