EUR/USD, low from April 2003. reached!
I wrote in my yesterdays EUR/USD analysis that 1.0550/70 is next target, here we are. Euro is falling like a rock, this looks preaty ugly now. There is no one from the other/long side!? If this level breaks, next target could be strong support monthly trendline at 1.0320/40, but is it time for a coffee break?
For this last morning’s decline we could thank to Mr.Draghi’s speech at the Frankfurt University! There is nothing new that we don’t know about, but… That men should go on vacation!
Here is EUR/USD Monthly RSI, today at 20.96! If you take a look at history in this pair, Monthly RSI has never been so low. This is not a rule and I usualy don’t predict and trade based on this indicator, but is it time for turnover? Hm, with Greece in focus again, it’s not an easy decision.
Forex Trader 