Looking at EURUSD’s chart, we can see that it is traded at its lowest ever rate for the past decades, very close to parity at the current rate of 1.003.

The FX pair is on a downward trend and most probably will test its strongest support level at 1. Failing to hold its rate above that level, will cause a major intraday drop. On the other hand, if it manages to hold it above that level, then a technical upward reaction could be expected.

(Click on image to enlarge)

More By This Author:

GBPUSD: Could Manage To Break Through One Of The Resistance Levels
IBM: Expected To Re-Test Its 52W High At Around $146
GBPUSD: Expected To Be Traded Around Its Support And Resistance Level