Next Euro Target at 1.4300
12/16/2009 2:37 pm EST
The daily divergences in the technical studies for the euro (click here for more) preceded the euro's drop to the 1.4500 area. There are no clear signs of a bottom on the hourly chart as it shows lower highs and lower lows. If the decline from the highs at point c is equal to that from point a to b, it would take the euro to 1.4300 and the lower support line. More analysis on the forex market is coming in this weeks Trading Lessons e-letter (click here to subscribe).