The dollar closed a week and opened another! Euro-Dollar – The consolidation on alert for a correccion.Mercado 1.35 Currency: The Euro retreated, breaking the bracket specified in the report of 1.3597 Friday, fell as expected but was content to reach 1.3501, with about 21 pips above the proposed target 1.3480. But what happened was a confirmation that the reach 1.38 has caused great distress to the euro. Besides the fact that the pattern of “Reverse Day” held on Wednesday was very strong in this pair. We can see from the chart below, which day we are operating within a channel very well harmonized, and it is exciting to see at the bottom of this channel is 1.30, we headed there? The dollar’s continued brilliance and extreme strength showed on Friday against the pound more specifically, and also against the euro, probably indicate that we are getting there. As for the short term, the support is for the 1.3501 low on Friday, and if it breaks, the fall will be resumed, pointing to 1.3422, support is important that some funds directly above it, and then to 1.3341.
As for the resistance, it is at 1.3542, and its rupture may indicate that the price would address a big drop, with the ideal targets for this correction located at 1.3621 and 1.3696. Support: 1.3501: Baja on Friday. 1.3422: Lower May 18. 1.3341: Low Mayo.Resistencia 8: 1.3542: Top of the Asian section. 1.3621: Fibonacci 38.2% for the short term.
1.3696: Fibonacci 61.8% for the short plazo.Analisis by: Forexpros.es Munther.Exoneracion involving Disclaimer: The operations of futures, options and foreign exchange carries a significant associated risk and may not be suitable for all investors. Should consider carefully whether your particular situation before you have the knowledge, experience and resources necessary to operate in these markets. You can lose all the capital invested, or that their losses exceed the funds originally deposited.