10 Mar 2015
EUR/USD hits fresh 12-year low below 1.08
FXStreet (Bali) - EUR/USD is on the move in Asia, breaking 1.08 barrier after a resolution through 1.0822 low, where initial buy limits put in place failed to hold the Euro, which continues to accelerate its bear momentum.
According to Jim Langlands, Founder at FXCharts, "Below 1.0800 sees the shorter term channel (below – brown) at around 1.0750, which fits in nicely with the important Sept 2003 low at 1.0759, and may well be a suitable place to trim back some risk in looking for a bounce in order to re-sell."
According to Jim Langlands, Founder at FXCharts, "Below 1.0800 sees the shorter term channel (below – brown) at around 1.0750, which fits in nicely with the important Sept 2003 low at 1.0759, and may well be a suitable place to trim back some risk in looking for a bounce in order to re-sell."