Usually fomc news caused big retracements for dollar , but not today .
Combined with a nice breakout of the monthly trendline , we might be looking for an extended euro downmove .
Todays failure of euro bulls to break above 1.46 is very significant .
the next few months I see continuation of a dollar strength , and euro weakness , 1.43xx, 141xx and finally 1.37xx levels should be seen next year.
Euro is in overbought position this whole year , and is comeing undone right
now .
There is no way we will see 1.47 this year , forget about it , bears rule right now.
Combined with a nice breakout of the monthly trendline , we might be looking for an extended euro downmove .
Todays failure of euro bulls to break above 1.46 is very significant .
the next few months I see continuation of a dollar strength , and euro weakness , 1.43xx, 141xx and finally 1.37xx levels should be seen next year.
Euro is in overbought position this whole year , and is comeing undone right
now .
There is no way we will see 1.47 this year , forget about it , bears rule right now.