EURO Price Action Contracting

EURO Price Action Contracting

The EURO continues its contacting price action. The price action is showing lower highs and higher lows at the same time which means that momentum is decreasing and trending phases are getting shorter and shorter.

Today, the EURO broke the current trendline, starting a new trending leg lower. 1.08 is the low of the most recent low. The EUR/USD shows a similar picture:

The next big news item is the unemployment data on Thursday out of the US.

In the meantime, the DAX is being sold today and the US stock market is expected to open lower as well.

Comment ( 1 )

  • Paulson

    Excellent post about euro

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