Near Term Trend: Negative
Friday’s Close: 1.05624 (- 26 pips)
UPDATE: Four weeks ago Euro has just traded up to 1.08360 - we stated, “1.0910 represents key resistance. I don’t expect Euro to trade above that point”.
Subsequently Euro backed off 330 pips at its lowest point, last Tuesday, since that writing.
It remains vulnerable to the U.S. Dollar’s strength, but that could change quickly with a U.S. Equity correction.