(1,3493) The EUR/DOLL confirmed a weak closing below Friday’s low suggesting further downside pressure at least toward 1,3450. In fact since the drop below 1,35 it missed to show any rebound for now. Europe has still a gap up area of about 100 pips that we expect to be closed. The indicators of the daily chart are still well positive but those of the s/t ones turned all below the line supporting further consolidation/ correction. An hourly closing below 1,3480 will favour lower levels toward 1,3450 if not even 1,3413 where we find today the 200 hours line!! We stay short. The EUR/DOLL is still far too expensive.
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