euro vs usd

Like many of the other currency pairs and commodities trading at present has been consigned to narrow trading ranges with a general lack of clear direction and momentum.  The euro vs dollar is no exception and with thin trading volumes at present yesterday’s price action was particularly desultory and frustrating as the pair ended as a tiny doji candle perched on the 9 day moving average.  Today’s price action sees to be following much the same pattern with tiny tests to the downside which are finding a modicum of support at the USD1.2522 price area suggesting perhaps that the euro vs dollar is ready to roll over and fall.  For the time being we need to wait for a break below the 40 day moving average to the downside which currently sits in the USD1.2310 region and once this is achieved only then will this signal a return to the anticipated bearish trend and a move below USD1.18 as a result.

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Euro falls following Portugal downgrade