The Euro Continues to Fall Against the Dollar
In this morning's trading session, I noticed that the euro continues to lose value against the US dollar. I took some time to analyze the chart carefully and realized that all attempts by the euro to recover above the resistance zone have failed. This tells me that the downtrend is strengthening.
The euro is currently moving within a fairly clear downtrend channel, which reinforces my belief in a continued downtrend. I am watching closely to see if there is a breakout through this area, because if it does, it means that the euro is likely to continue to lose value even more strongly.
The euro is currently moving within a fairly clear downtrend channel, which reinforces my belief in a continued downtrend. I am watching closely to see if there is a breakout through this area, because if it does, it means that the euro is likely to continue to lose value even more strongly.
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