EUR/USD, step by step lower!
The pair is falling slowly but steady for days and today we have another low in the last 7 months, round 1.0600 for now. Trend lines are all over the place and the sellers are positioned at various locations on the way up. There is no major support here, at least I can’t see it, except these trend lines and previous support from April 12. at 1.0520. But, that level is near the previous 2015. low at 1.0460/500 and it could be tempty for the sellers, to make a new one for sure. On the other way, the buyers are placed above the previous multi year low, there is no doubt about that, but we have seen the bears strenght in the previous weeks. Let’s see, when and can they become more serious? If not, the buyers could turn over, or at least they can try again!