GavaldaFX Forex Blog

It looks like the second try to breach the 1.5730 area failed again, so I went short at least until we figure out what happens.

So, EUR/USD is crushed yet again, we can see a tremendous amount of euro dumping across the board. Rumor has that several European and Asian banks are responsible for this movement. Whatever the reason is, they’re making it drop like a rock. Rumor also has that next “strong” support is at 1.5610(ish). Maybe really a new trend is forming!

Edit: I hope I was clear on that it is a euro selling effect, it has nothing to do with USD strength right now. The overall picture is more and more dark for the eur/usd pair.