EUR/USD outlook for September 11, 2014

Euro’s weakness is quite stunning. There is no technical reason to close our shorts yet. We will do that in case EUR/USD goes to @ 1.3010. A technical rebound to 1.30 as well as some consolidation around current levels are very likely for the days ahead. I guess that volatility will go massively down. Next target lower is 1.2750 (multiple support from May/July 2013).

EUR/USD spot rate, weekly chart:

EURUSD_weekly_20140910

Chart courtesy of investing.com. http://investing.com

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