Euro Remains Pressured Against The US Dollar

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Euro Remains Pressured Against The US Dollar

By Greg Michalowski on March 24, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The break of the 100-hour moving average has now led to a move below the 1.3515 level. This action suggests some profit taking in the EUR/USD is probably underway. The EUR/GBP is off the lows but still down sharply. The EUR/JPY is also moving lower, after rallying earlier.

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For the EUR/USD, the low yesterday (Monday) was 1.3485, below that is the 1.3418 level from Thursday. Gold is down sharply. Stocks are down today. It looks like a time to correct.

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