Euro is continuing to show weakness. Trade $EURUSD here -
We have been in a downtrend for quite some time, so it does make sense that we would see the euro fall because of it. That being said, the market is likely to continue to be one that looks at these rallies as selling opportunities. The overall attitude of the market will continue to see quite a bit of noisy behavior, as there are quite a few different things going on at the same time that greatly influence what happens with the US dollar.
The euro continues to suffer at the hands of every weak economy and the fact that growth is more likely than not going to be a major issue., they are far behind the United States and that will continue to be a major factor in where this pair goes. It is obvious that the 1.08 level has offered significant resistance now, and it has become apparent that the previous support has now been a significant area of selling. Looking at the chart, I believe that the 1.