WIth ECB turmoil and three further rate hikes in 2017 expected for the USD...this pair could be in for a long painful road down to parity. This weekly candle close is crucial for us to have an idea how this will play out..a close and break below 1.04800 will see parity within the first quarter 2017 but a failed break out with some bullish price action could see us remain in this range for a while yet.
Please feel free to comment and post your chart analysis of this pair.
Please feel free to comment and post your chart analysis of this pair.
Comment:
double bottom failed to materialise. expect a move down to parity but before we should expect some sort of retracement