Will Eur/Usd touch 1.2750?
Current scenario highly supports bearish sentiments. 1.2750 in september is not improbable. Pair has been falling since May (in June it rose a little). Overall trend is strongly bearish. So technically there is no reversal anywhere near.
Economic data is also in favor of Usd. U.S economy has managed to grow at a better rate than than Eurozone.
So I am in favor of 1.2750.
What do you guys think of it?
The good or ill of a man lies within his own will. – Epictetus
It is already below 1.2950 and looks like it will continue bearish movement. Fed minutes and BOE's decision this week will also be key in deciding it.
My analysis was correct. It closed near 1.2760 last week. At this point, I am in favor of long positions with target of 1.2900. On the downside, in my opinion, it will stay above 1.2700.
Eur/Usd is now moving sideways below 1.2700.
Looks like it will continue downward movement because USD is comparitively getting stronger than EUR in terms of economy. Technical analysis also supports USD strength with support level at 1.2000
Stick to your rules