Euro holds its long-term position

Once again, and in keeping with its behavior for getting on for a year now, the EURUSD support level at 1.28 has been well and truly maintained.

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Please see the Omicron Forex blog post here for some analysis of why this support level is so strong. Certainly, from the point of view of Technical Analysis and in on the principle of thinking in probabilities, which is the only way to trade, it would be a great mistake to bet against this level of support holding.

But if EURUSD goes below 1.28 in a sustainable fashion...Watch out below.