(1,3415) The EUR/DOLL confirmed a very weak closing last night well below the support of the inside day at 1,3445 suggesting further downside risk toward the 1,3250/00 support area. A weekly closing below 1,3414 will support such a move. The decline should however start finding good support already at 1,33 where the EUR/DOLL topped a few time on the way up!! The indicators of the daily chart are now well negative supporting further weakness and also those of the s/t ones are below the line. The drop failed yet to form divergences in the hourly chart but we have oversold conditions. Since the yesterday’s drop the EUR/DOLL failed to produce any significant rebound suggesting further downside pressure. An hourly closing below 1,3370 will support a direct move toward the support area at 1,3300/ 1,3280. We expect lower levels, move that should be favoured also by a general correction in the EUR crosses!!
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Future Trend Research