Correction Phase ; Downside Breakout
On the short -term the market the market still ranging between 1.07 and 1.12 levels as awaiting a more data to decide the new mid-term direction ; those levels considered critical for short-term traders . The breakout direction is on the downside which means the continuation of the major down-trend ; 1.040/1.0350 the coming target for the technical view.
On the longer-term view : the market on the down trend driven by a lot of factors ; moreover , a levels below 1.04s es expected and parity exchange rate would be in the next half of 2015.
Daily Trend: Down
Weekly Trend: Down