EURUSD Bearish Trend Picks Up Steam – December 14th 2016

EURUSD – Euro/dollar bears remain in control

In our recent commentaries, we have talked about looking to sell the EURUSD on any strength / temporary push higher, in order to trade in-line with the bearish momentum in this market. As we can see in the charts below, the EURUSD broke lower today after a brief retrace higher early this week. Sellers are clearlyvery much in control of this pair right now and we see potential for it to move even lower, perhaps to parity in the coming weeks. We remain committed to the same view we have had for weeks now in the EURUSD; looking to sell on strength, in order to get on board with this downward moving market.


Weekly chart –


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