Euro Bears Are Growling | Investing.com

  


Weekly EUR/USD

The shambles that is Europe is currently reflected in the , which continues to plumb new depths on the weekly chart, as each attempt to rally is snuffed out. While Germany’s economics continue to weigh heavily and Brexit takes its toll, the technical picture on the weekly chart makes the case clearly, with the deep wicks to the upper body of the candles telling their own story.

Longer Term

This has been the case since late last year, with last week’s wide spread down candle engulfing the up candle of the previous week and driving the EUR/USD pair toward the 1.0900 region and lower. And with a low-volume node now ahead and the trend monitor indicator turning bearish, the longer-term outlook does not look promising for the single currency and should the 1.0850 region be breached, expect to see the euro continue lower across the complex.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Read more here