Near Term Trend: Negative
Fridays Close: 1.05950 (- .28 pips)
UPDATE: Five weeks ago we noted key support at 1.0950- 1.0910 region, and as of 15 days ago the Euro settled below that region.
Based on that I stated, I would expect a test of the 1.07100- 1.06500 region.
We hit it and slightly surpassed it this week.
At this juncture, Euro is oversold is oversold near term. Slight bounce higher could be based on short covering to book profits pre- Thanksgiving.