EURUSD, At home fundamentals still show strong bearish momentum
Updated
(Chart contains more information)
Unlike the other pairings against the dollar, I see too much weakness here against the dollar, and I believe that has more to do with the economic (fundamental) issues that are facing the EURO and EURO block countries. There is a lot of price action exhaustion to go north, and even if the dollar shows weakness, I don't think that the EURO will be in a position of strength, so we will be seeing possibly a weakness vs weakness situation.
Unlike the other pairings against the dollar, I see too much weakness here against the dollar, and I believe that has more to do with the economic (fundamental) issues that are facing the EURO and EURO block countries. There is a lot of price action exhaustion to go north, and even if the dollar shows weakness, I don't think that the EURO will be in a position of strength, so we will be seeing possibly a weakness vs weakness situation.
Note
EURUSD has taken advantage of the weakness seen in the dollar during the last few days of trading last week. Compare GBPUSD to what we see here and it is clear that investors are in a Risk-On Sentiment (concerning the USD).
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