European Debt Crisis still not able to find Long Term Solution

EURUSD

The Euro continues to tumble versus the US Dollar, and heavily one-sided retail FX trader sentiment suggests it will likely continue to fall through the foreseeable future.

Euro is struggling now and now trading below $1.30, and a political fightback between EURZONE Countries view of popular sentiment keeps us watching for further weakness.

It is worth noting that short interest is actually up 21 percent on a week-over-week basis; many forex traders have capitulated into the clear downtrend and are now selling into weakness. Yet we would need to see a more substantial shift in sentiment before calling for any meaningful reversal a midst such strong momentum. 

‎Support‬

S1: 1.1777
S2: 1.1684
S3: 1.1609

‎Resistance‬

R3: 1.2173
R2: 1.2080

R1: 1.1929