The dollar made a nice pin today, and some support may have been founded around 1.0960. This is just a minor level. What I think for the next week is the following.
De euro has been knocking on the door now a few times around de 1.10 area, and sice it is sort of "breaking" the door everytime it passes 1.10, a break above again will target new areas. The max target for this is around 1.14, this is to confirm the solid downtrend from the last few months.
After this the euro will go back to lower areas and even parity at the end of 2015. Please look out for the weak data from the US last weeks, it's getting worse and worse, and bottom could alreaddy have been formed so a rebound is a possibility.
On the other side, if the dollar next week goes back to 1.08 and break this, we will see 1.05 again in the next two weeks, followed by new lows in the following months.
Have a wonderful weekend and take a look at my blog sometime.
businezztime.blogspot.nl
Vince
De euro has been knocking on the door now a few times around de 1.10 area, and sice it is sort of "breaking" the door everytime it passes 1.10, a break above again will target new areas. The max target for this is around 1.14, this is to confirm the solid downtrend from the last few months.
After this the euro will go back to lower areas and even parity at the end of 2015. Please look out for the weak data from the US last weeks, it's getting worse and worse, and bottom could alreaddy have been formed so a rebound is a possibility.
On the other side, if the dollar next week goes back to 1.08 and break this, we will see 1.05 again in the next two weeks, followed by new lows in the following months.
Have a wonderful weekend and take a look at my blog sometime.
businezztime.blogspot.nl
Vince