Euro Pierces Major Support Level EURUSD $EURUSD forex forextrading
This was a major breach of support, although we did recover a bit after that move. This tells me that there is still plenty of downward pressure on the Euro, and during the day we also learned that the EU considers paying for Russian natural gas in rubles as a breach of sanctions. Because of this, the energy question continues to be very difficult for Europe, and I think that might be something that we see in the currency markets.
In other words, if you are looking to buy the Euro you can take your time, as you should have plenty of it to spare.
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