Euro: Down Down Down We Go

The euro has dropped more than 100+ pips since it reached 1.1879 on October 12.



Besides the political turmoil between Spain and Catalonia, there is not any real market-mover news that sends the euro down. 

The fact that the euro has strengthened against the U.S. dollar since the beginning of the year and has risen over 1,200 pips, from 1.05 to 1.17.  The uptrend momentum may have lost some steam.

Regarding the near term support levels, we are looking at 1.1720, 1.1660, and followed by 1.1620.





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