- A relentless downtrend continues for 6E
- Price band to look for short trades
- Potential bearish targets set at $0.9668
The Downtrend
We have covered the Euro a few times this month, and the narrative remains the same as the relentless weakening of the Euro continues. We categorically stated in our previous analysis that the 25 and 50 moving averages have been excellent ways to enter short trades in the Euro. Take a look here.
We have marked from current prices of $0.9768 – $1.0035 as a price band that we are looking to accumulate shorts. Possible targets could be set at $0.9668 or lower depending on how prices react at the low of $0.9592.
