LADEEc57

RISK-OFF CONTINUATION LIKELY

FX_IDC:EURUSD   Euro/U.S. Dollar
46 0 2
FX_IDC:EURUSD             Price action retracing nicely along negative slope trend line , nearing support level at 1.1366. A breach below this level could be caused by the continuing bear raid party action in the commonwealth cross pairs : namely USDCAD             & AUDUSD             , & reinforcing the risk off environment. However, what could reverse this retracement is a higher price movement in XAUUSD             . Should gold             continue it's upward trajectory, algorithms could force short covering in EURUSD             .
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