The euro continued to slide against the dollar today, after some heavy sales on Thursday on the back of some comments very pacifists European level President Mario Draghi Central Bank.
After crossing the low September yesterday, the pair looks likely to see further losses in the coming weeks. Now is to find support at 1.1015, which coincides with the lowest fixed August 18
While this may lead to more consolidation or even a short-term retracement, I think this may prove to be a level of temporary support, with the level of next key support may come in around 1.09
a rising trend line -. 13 March low - could provide support at this level but it should be noted that with only two keys at this point, this is currently a speculative trend line. If the pair will find support here, it would be the third contact and thus confirm as a legitimate trend line.
Below, here the pair could run into additional support just above 1.08, which marks the lowest for the pair for the last six months.
If we see a retracement of the pair of current support, it will be interesting to see how the pair reacts around 1.11, the low of September highlighted below -above. A move above this would bring the key fib levels considered being 38.2% - from 1.12 to 50% - 1.1250 - 61.8% and -. 1.1310
It is interesting to see the backlog OANDA that 1.10 is clearly a great level of interest. There is a lot of waiting orders and sales here. It does not necessarily provides polarization information at this time that the two are roughly equal, but it would suggest that there will be much activity.
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