Today’s close will be very interesting to see , with the dollar possibly set to make further gains. The dollar index is now well above the 200 day MA at 76.20 and closed above there last night. A second close tonight above the level will signal alarm bells especially if it’s above the 76.72 highs of July 12.
Equally as mentioned earlier a close on the EUR/USD below 1.3840/45 can signal a move down to 1.3430 seen in February.
EUR/USD’s around 1.3812 at the moment with next major support seen at 1.3770 which is 38.2% retracement of the 1.1865-1.4940 rally. Some support also seen around 1.3760 and stops down through 1.3750.
Let’s see what the US makes of it all.. all looking rather heavy just now have to admit.
