EURUSD Analysis: Is heading to 1.13


On Friday, the EUR/USD traded below the 1.1350 mark. It had declined there after plummeting suddenly in the afternoon of Thursday.

In the near future, the currency exchange rate is expected to continue to decline down to the 1.1300 level. At that level the weekly S1 and the lower trend line of a dominant pattern will meet with the rate.

If the rate, bounces off the support level it will face no resistance to reach back up to the 1.1380 levels. On the other hand it might pierce it and continue to decline.


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