Near Term Trend: Negative
Fridayâ€™s Close: 1.05624 (- 26 pips)
UPDATE: Four weeks ago Euro has just traded up to 1.08360 - we stated, â€ś1.0910 represents key resistance. I donâ€™t expect Euro to trade above that pointâ€ť.
Subsequently Euro backed off 330 pips at its lowest point, last Tuesday, since that writing.
It remains vulnerable to the U.S. Dollarâ€™s strength, but that could change quickly with a U.S. Equity correction.