It was a tremendous week, last week, first we were LONG with the EURUSD
thinking that nothing will stop this BULLs, after the FED delivered the report on Wednesday, it went up, up, up, like it was on fire. It crossed the resistance on 1.1414 and it looked like it was unstoppable, suddenly it had no more energy and it started to come down. At the same time, the DXY
was hitting bottom on an ascending channel
. I imagine all the traders started taking profits, and it couldn't sustain this gain, Thursday came down a little, then bad news on Friday from Germany and this time the EURO
was on trouble, the stock market was down, EURUSD
down, and it was a week of ups and downs.
With no doubt, the forecast for this week is that the EURUSD
will continue to go down.