Sforex
Long

EURUSD: COULD CORRECT AFTER SEVERE FALLING

FX:EURUSD   Euro / U.S. Dollar
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EURUSD COULD COME BACK BULLISH MOVE AFTER SEVERE FALLING DOWN.

The main reason for that point is that after using many tools to restrict low inflation of Eurozone, ECB will not hurry in use more tools such as QE like US to pull entire EZ economy. They will wait for economic data before considering next step.

Moreover, Last FOMC Meeting, FED didn't provide anything new about the time of first rate hike, and they also downgraded the GDP. They said that low interest rate would hold in the considerable time after QE3 end.

Inconsistent stance of FED gave a chance for EUR to recover vs USD.

That why I believe EURUSD will correct.

Look at on the chart, I see a standard Harmonic Bat Pattern , and SMA200 will be the good resistance zone .

I believe EURUSD will test 1.3665

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Comments

I think the horse has bolted.
Reply
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