Online Forex Trading - Euro fall at two month low
As usual last 2 day of the week trading session always have a high volatility.Last week also had the same scenario.Euro has fall for 200 point+ vs Us dollar.
This action started from the day of ECB rate statement and their speach,at that time Euro bearish movement is minimal.Then its getting supported by GBP BOE rate statement which also not in a positif side,thus expanding Euro bearishness.
Some traders said that movement also supported from US current economic buzz,especially from bonds area.That is when US Treasury 10-year notes annauncement to rose to 5.25%.
Plus from the US economic new data that released on last friday,US Trade Balance also giving a better out come plus a good revision.
All of this giving a reason why Euro and thoer major have a strong fast movement.
Online Bisnes Elliottwave and fibonacci analysis.
Now that euro has passes last two week low a new actionary trend is now formed.Last week high would be the last counter trend with a label B wave.
Next target will be a wave C down with a projection from previous wave 5 to wave A.
1 st target would be a a range of 161.8% of fibonacci expansion of wave A to Wave B.
Regards.
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