...or maybe the sellers outweigh the buyers?
4 reasons why EUR/USD is free-falling
EUR/USD continues its journey south and has dipped below the 1.36 level. The next support line is 1.3570. It has been a long journey from over 1.38, after losing the steep uptrend channel. The not-too-dovish Fed statement + very disappointing (and especially deflationary) data from Europe pushed it lower. Another small push came from the super strong Chicago PMI in the US. This is how it looks like: EURUSD tumbling down October 31 2013 on FOMC Chicago PMI deflation data euro zone 4 Reasons FOMC: The Fed didn’t change its policy and even removed the phrase about “tighter financial conditions”. This implies that ... (full story)