Will the Euro's current downward trend continue?
Investors are concerned about inflationary pressures and their influence on monetary policy and economic recovery. Meanwhile, all US market indexes reached a new high on Friday. The Stoxx 600 stock index in Europe was generally balanced.
The EUR is attempting to break out of its rising wedge and retest the October high of 1.6850. If the bulls prevail, the next possible support/resistance level would be 1.75 - 1.77.
In contrast to this idea, if the bears seize control of the market, the next 1.45 - 1.40 range might serve as possible support.
The EUR is attempting to break out of its rising wedge and retest the October high of 1.6850. If the bulls prevail, the next possible support/resistance level would be 1.75 - 1.77.
In contrast to this idea, if the bears seize control of the market, the next 1.45 - 1.40 range might serve as possible support.
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