(1,2850) The EUR/DOLL is still confirming further consolidation interior the negative outside day with 1,3010 – 1,2820 still the levels to follow in the coming hours; only a daily closing below 1,2820 will confirm lower levels toward the neck line of the potential S_H_S formation, still at 1,2776!! The indicators of the daily chart are still well negative while those of the s/t ones are below the line supporting further weakness. Bullish divergences confirm a negative tone supporting lower levels. The EUR/DOLL is at a s/t support line at 1,2845. An hourly closing below this line will faovur further pressure suggesting a retest of the 1,28 area!! We stay on the sideline for now waiting for further confirmations but overall expect the EUR/DOLL to break below 1,28!!
Click here to read the full report: EURUSD 05.29
Future Trend