The last week the EUR started to depreciate against the US dollar.
the value of 1.4071 send the Eur to a plunge.
It's interesting to observe a little the bigger picture... A range trading, and very vollatile behaviour is to remark on this pair.
It seem like the banks can move the pair all around but a down trend is feasible.
The short future looks promissing for the us dollar... but on a longer term China puts lots of pressure... why? cause it's very afraid of their money in US Bonds, 'what if US economy falls suddenly'? ' what happens with our money?' China is putting lots of pressure on the US dollar.
For the moment the pair sits comfortably around 1.3915 - 1.3945.
If the Dow gets under 8000 a big psychological value, the pair can hit 1.37, if it goes optimistically high towards 8700 then things might turn around...
Take in consideration specially the Goldman Sachs prognosis 1.45 for eurusd and 1.85 longer term prognosis for the cable...
Make money trading!
G
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