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A 1.30 Break Alone Not Enough to Sustain EURUSD Bear Trend

A 1.30 Break Alone Not Enough to Sustain EURUSD Bear Trend

2012-09-21 03:35:00
John Kicklighter, Chief Strategist
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After a brief hesitation, EURUSD dropped below the closely-watched 1.3000 level. Sometimes, a significant technical break is all that is needed to trigger a momentum-backed reversal. This does not look to be one of those occasions however. The euro is showing inherent weakness that has driven the currency lower; but without a definitive risk aversion push for support, there may not be enough here to generate a lasting trend. What will define our next meaningful market phase? We look at the balance between the decelerating stimulus effort and concerning fundamental backdrop.

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