The Euro enters a danger zone in the medium term around 1.3700 against the dollar.

[RTFX-Trading]

The Euro enters a danger zone in the medium term around 1.3700 against the dollar.

The EURUSD is up today, having fallen to 1.3583 this morning at 08h12 CET; it is up almost 1% to 1.3695, with a peak at 1.3707 at 14.02 CET. The highs reached recently are, 1.3738 on March 19th 1.3727 on March 20th 1.3736 on March 23th, 1.3707 on 12th May, 1.3722 on May 13th and 1.3707 today at the time of this publication. Therefore 1.3700-40 is very important in the medium term.

So will it break, or will it not? According to our daily technical analysis, EURUSD should correct to 1.3550 or 1.3471 from 1.3688 today, a break of 1.3747 would cancel this expected correction. Personally, I look for a downward correction today, however it should still break 1.3750 area in the medium term.



Emman Xuereb
RTFX Ltd
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