![]() ![]() The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. ![]() When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. Important Disclaimers The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. Because of this, we may have a lot of confusion in the short term but by the time we get to the end of next week, it’s very likely that we will have quite a bit more in the way of clarity.įor a look at all of today’s economic events, check out our economic calendar. Keep in mind that both the Federal Reserve and the European Central Bank have interest rate decisions next week, one day after the other. Once we do, it’s simply a matter of following whichever direction the market decides to break out toward. With this being the case, I think you’ve got a situation where the market is likely to continue to see a lot of back and forth, but I do think that given enough time we will have to break out of this range. As things stand right now, it would be a bit difficult to see that, but it’s not an impossibility. If we were to break down below that level, then it opens up a flood of selling and could send the euro much lower.Īlternatively, if we were to turn around and break above the highs of last week, then it’s likely that we could go looking to the 50-Day EMA, and then possibly even as high as 1.10 over the longer term. ![]() Looking at this chart, is very likely that we continue to see downward pressure overall, and if we do break down below the lows of last week, then it’s possible that we could go down to the 1.05 level, the next large, round, psychologically significant figure.
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