Will The Euro Really Crumble and Fall Below 1.30?

This is a question asked by many traders out there that love the Euro, with all this negative news on recession, Spain, Greece, austerity packages that finally the Euro is at its most vulnerable point. The truth this has been one of those debates for ages. It goes on and on. Will it drop below to 1.26 again, will it this and will it that. While all the news points downwards, its amazing how strong that support at 1.30 is. It keeps holding and holding however what a lot of people do not see is the signs on technical finally are showing the signs of a progression lower.

euro outlook april 17th

Euro Daily chart above showing strong support @1.30 area and strong resistance @1.32 and @1.3375

If you look at the daily chart above you will see what i mean.. It looks like if it does drop it maybe the next move down. However that totally depends on the yo yo effect of how Draghi approaches the issue as well as how and if they can pull some miraculous money out once again to boost the banks. Ehat do you think, do you trade the EURO / USD..? If so, i would love to hear your thoughts on the Euro and where it is heading, to me the forecast and i will be selling from anywhere above 1.32 from now on…

About Timon Weller

Timon Weller is the professional Writer and Trader behind the blog Forex Reviews. Timon Weller is also a professional Teacher of Price Action Trading and creator of the popular Training Series teaching people how to trade Price Action effectively called The Engulfing Trader. For other Forex Training available here at Forex Reviews click here.

For more on Timon Weller Click Here. To Learn more about How to Trade the Market and get updates Click Here.

Speak Your Mind