EUR/USD Technical Analysis September 9, 2011

The EUR/USD pair fell hard on Thursday as ECB Chairman Trichet did his best to talk down expectations in the EU. The pair is now significantly below the 1.40 mark, and as such looks very, very weak. However, there is still the recent low of 1.3838 which has to be overcome for a long-term sell signal. Truth is though, it is very difficult to buy the Euro at all, so we are selling rallies, or a break down below that level in the 1.3838 area.

Written by FX Empire