UPDATE (Ed.): On December 14, EURUSD slid below $1.30.
On December 13, EUR/USD (the euro-dollar exchange rate and the most actively-traded forex market) fell as low as $1.3010.
That's just 10 pips away from the psychologically important $1.30 level, the threshold of another potential "abyss" for the euro.
The euro weakness has been blamed on the "disappointing results" of last Friday's European leaders' meeting. But as we've shown you before on these pages, you didn't have to wait for that news to be prepared for this euro selloff.
Update For: Monday
Posted On: Sun, 11 Dec 2011 03:58:05 GMT
EURUSD
Last Price: 1.3385
[Lower] Little change: Focus is on price falling in five waves from 1.3460 to well below 1.3212. Interim resistance at 1.3434 should earn respect.
Not a word about European troubles, as you can see; pure Elliott.
This week's 2-day, 400-pip drop has been one of the best forex opportunities this year.
What's next for EURUSD and other forex pairs? Our forex-focused Currency Specialty Service has just posted its latest EURUSD update (6:03PM ET / 11:03PM GMT). Subscribe now to read >>
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