Euro broke lower yesterday again
|EURUSD
Euro broke lower yesterday again...but only reached 1.1260...now overnight we have come lower but marginal- ly...There is a lot of support in the 1.1240] 20 area and I think longer term traders are beginning to look for the market to move higher..
This is not to say that the Euro is going rocketing higher....that isn't the case...but what it does mean is that there could well be a move higher to 1.18 if this 1.1200I1.1150 holds...
I think the longer] med term traders are beginning now to look for buying ops...we are dangerously oversold on the 4hrly and daily charts" Already overnight we are beginning to pick up....So there is a lot of reasons why buyers are coming in...
If it does then we are fine....up we 90...
Failure at these lower levels keeps the pressure on the Euro and we would see the market come lower then for 1.1025 and then 1.0850.
That is the med term targets if we lose 1.1150, especially on a close basis....
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