The Fibonaci setbacks from the minimum
to the maximum of this year (1.2873 and 1.4939) shows that the EUR / USD
closed the session of September 9 in the zone of 61.8%.
Over the last 2
weeks the euro has had the greatest loss for a period of two
consecutive weeks down, 893 pips.
For now, the behavior of the Euro is
tied exclusively to Fundamental Analysis and Technical Analysis is
in the background in part by the economic situation of the weaker countries of
the European Economic Community.
Against this background, regardless of
the economic news, the next important Euro support level is the area of
1.3400 - 1.3425.
If in the coming sessions the euro recovery against
the U.S. dollar, the following resistence would be the 1.3900
and 1.4150 (50% and 38.2% of Fibonaci).
It is very important to consider for the next week that the Euro not have important economic news and
the only relevant news of the U.S. Dollar are the Core Retail Sales and
the Producer Price Index (PPI), which announced the Wednesday at the same time both.
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