EUR/USD – Week 9 – New low expected.

Having hit a seven-week peak in the 1.2240s on Thursday, the Euro has reversed sharply against the US Dollar and is now back beneath the 1.2100 mark, the main driver being the prolific number of USD buyers that were present at the end of the month.
As we predicted in our past analysis, Euro rejected the strong resistance area that we highlighted and it seems that now is bound for a new low. We expect the price to reach 1.19 levels, or go even lower towards the liquidity pool area.
Keep in mind that this a Non-Farm Payroll week and we can see some volatility impacting the pair.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

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