Mihai_Iacob

Will EurUsd fall towards parity in medium term?

Corto
OANDA:EURUSD   Euro/Dólar estadounidense
If you've read my analyses regarding EurUsd you know that I'm bearish on this pair and both my 1.14 and 1.08 targets were hit. With the price approaching 1.08 again we may ask ourselves if it will reverse or it will go lower. My opinion is that EurUsd has more to fall.
Looking at the posted weekly chart we can see that the drop from 1.24 is impulsive and the trend is clearly down.
At this moment 1.12 is strong resistance and with strong selling power, bears look determined to break the 1.08 support
A break of this support could accelerate losses towards parity and as long as 1.12 is intact, 1.04 can be the first target for swing traders.
That being said, I will look for selling opportunities around the 1.10 zone.


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