The same story repeated again and again; only the language is different, the purpose all is the same.
The rumors that Greece will quit the Euro – since denied – were designed to drive down the Euro.
The Euro has been up against the US$ for about 3½ months and almost hit the 2009 peak, which was the yearly sideways top area (1.50 to 1.25). A retracement of the recent decline should be expected.
However last week’s short-term downside move threatens the short-term uptrend.
A move under 1.4136 could lead price down toward the next support level 136-1.35 range. But if 1.41 line holds up, price could bounce back up to 1.4633 -1.47 for testing.
This is an excerpt from the free Weekly Market Preview published by Naturus. To see the complete document, visit http://naturus.com
EURO Daily chart
