Click on Image to Enlarge
The long term trend remains down for this currency pair. It is currently supported by the price levels of 1.3613 & 1.3637. These levels are not designed to mark the "low" but rather weekly or daily closing prices. If these levels hold as support then a rally is expected to carry the Euro up to 1.4197 the week of March 5, 2010. From that point, the Euro is expected to resume its downtrend and reach the target of 1.2790 by August 8, 2010. A rally is expected off the 1.2790 level however it is not intended as a long term support level. Price is still expected to decline until early December 2010.
No comments:
Post a Comment