Monthly Technical Outlook |
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Monthly Outlook for EUR Comment: The sudden collapse of the last two months, while an awful lot bigger than we had allowed for, is still within normal retracement parameters and similar in size to the 20 cent decline of 2005. A small bounce from Fibonacci retracemnet levels, above long term trendline support and the December 2004 high at 1.3670, suggest we will consolidate around 1.4400 this month. Allow for sharp intra-day and weekly price swings between 1.4000 and 1.5000, exacerbated by thin
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