The common European currency keeps losing its ground, thus making new local lows. It has come close to 1.3300. Angela Merkel has recently disappointed investors by saying there will be no euro bonds and no tighter eurozone integration.
Today there will be almost no significant stats.
For today’s Euro session the Department of Volume Analysis of has defined the following trends:
The mid-term trend of EURUSD is downward
The short-term trend of 6ЕZ1 (EURUSD futures) is the following:
From the standpoint of short-term prospects, 1.3330 seems to be the current reference point. If there is an easy break below the level with further consolidation below it, the currency pair will continue its downtrend. If the support withstands the pressure, the bulls will get a chance to stop the downswing by initiating a flattish pattern.
