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The Euro Falls Across the Board

The Euro Falls Across the Board

Thomas Long, Course Instructor

These 4-hour charts show that there was a change in sentiment of traders concerning the EUR. This currency went from relative strength to relative weakness on November 4th and has been falling ever since. The EUR/GBP and the EUR/USD seem particularly weak with a move by the S&P500 down through support in the 1171 area a potential catalyst for further USD strength. That flight to the perceived safety of the USD could push the EUR/USD down hard and fast, especially this week because of the low US holiday related volume being traded in the financial markets.

The_Euro_body_72829d1290523070-chart-day-eur-1123.png, The Euro Falls Across the Board

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.