The Eurozone's single currency continues a steady downtrend by breaking new local lows, with the latest at 1.3670 though the movement has looked like a consolidation over the past two days within 1.3670 - 1.3830 which can become a springboard for further developments. During the American session the day before bears tested a level at 1.3700 but impulse strength died out below it. The forthcoming G-20 Summit in South Korea might add more clarity to investor sentiment. It is expected to offer drastic solutions to controversies that have arisen so far and affect the fate of global economy and further dynamics of exchange rates.
Publication of ECB's Bulletin at 09:00 GMT is the only significant event today.
The Volume Analysis Department within the Маstеrfоrех-V Academy currently establishes: MEDIUM-term dynamics: bearish
SHORT-term dynamics of 6EСONТ(EUR/USD) Futures
Today's dynamics can be determined by market reaction to a level at 1.3775 - the maximum level since yesterday with a significant volume of about 8,000 lots. If the price is traded upwards the bearish grip might ease up a bit and show some signs of an uptrend. When broken down this level continues the existing tendency.
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