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Greg Michalowski

EUR/USD Fading Into The Weekend?

By Greg Michalowski on August 21, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

With an empty news calendar in Asia and an extremely light calendar in NY tomorrow the Euro has a lot of room to the downside, not withstanding any large orders which helped drive the currency higher a few NY mornings ago. The first support level on the horizon looks to be the 50% retracement level of the short-term move, which should coincide with the 200 hr moving average in the very near term.

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