Euro-Dollar Going South

With the Euro-Dollar’s overall bearish outlook, the current downward leg may soon be approaching its end. As it extends past the 127.2% extension, the pair now targets an extension to the 161.8% extension at 1.14000 which also happens to be a key support level.

  • Should the price break below 1.14000 there may be a greater sell off.
  • However, bulls may find an opportunity to trade the short term correction.