FXstreet.com (San Francisco) - The Euro is trading lower today against the Dollar. Currently the EUR/USD is testing at 1.2900, 0.58% below opening price action. The Euro closed Friday below 1.3000 mark and according to TD Securities's analysts Shaun Osborne and Greg Moore, "pressure lower is the dominant trend."
"For the EUR," TD analysts comment, "the tide has clearly turned, and pressure lower is the dominant trend. The broad weight on risk assets and the focus on key hurdles in the ongoing Eurozone saga has seen the single currency make a credible test of the 1.2900/10 support zone in recent hours."
"Headline driven markets make strategic positioning rather challenging, but with days ahead of anything potentially positive out of Europe," Osborne and Moore points, "it is best to stick with the trend."
"Below 1.29, the low 1.28 area looks to be the next major area of support," they conclude.
"For the EUR," TD analysts comment, "the tide has clearly turned, and pressure lower is the dominant trend. The broad weight on risk assets and the focus on key hurdles in the ongoing Eurozone saga has seen the single currency make a credible test of the 1.2900/10 support zone in recent hours."
"Headline driven markets make strategic positioning rather challenging, but with days ahead of anything potentially positive out of Europe," Osborne and Moore points, "it is best to stick with the trend."
"Below 1.29, the low 1.28 area looks to be the next major area of support," they conclude.
