Returning from vacation, I realize the significant changes in the prices of various assets and try to align myself with the market. I can see the strong fall of the EURUSD pair, I realize the strength of the dollar and the weakness of the euro and its implications.
The month of August and the beginning of September pushed the value of the pair to values approaching the prediction I’ve made on 23rd May, which points to 1.27 as the next support:
The long term trend is still down. The weaker euro has it’s fundamentals well established. The ECB has made it’s move to get the pair down and it seems it’s not over yet.
We are getting close to a support zone and we shall have a consolidation before a continuation of the downward move.
EURUSD Monthly Chart: