In these days, a man who says a thing cannot be done is quite apt to be interrupted by some idiot doing it. ~ Elbert Hubbard
Good morning. The euro continues decline, being set for the biggest weekly loss this year, while the dollar is testing fresh highs – after a minor correction from 81.70 to 81.
Psychological barrier at 1300 remains intact and seems rather strong so far, hence I believe that a correction towards 1340 is likely
Perhaps it is time for a correction after such a strong decline. Last two recoveries at 27 suggest that a temporary bottom is being formed. Anyway, buying it is probably a good idea only on a break above 28.80/00
It’s been a strong sell-off and it doesn’t seem there are many cable buyers around 1.5650. Recent upside pullback, from 1.5730 to 1.5830 was rather weak, not fulfilling my plan to buy on potential break of 1.5840/50.
have a great weekend!