EUR/USD Analysis (September 12)

With a weekly close below key 1,40 support and July low (1,3835), the pair has confirmed a major trend reversal in 2011.
We expect additional pressure going forward and next key target is seen in the 1,29 area corresponding to the yearly low.
We might see some consolidation or retracement but we now clearly encourage a bearish prospect on the EUR/USD for the coming weeks and even months.