EURUSD Breaks Week Below Key Trendline

EURUSD breaks below its 4-week trendline as the currency draws the bulk of risk-off trades upon the prospects that Thursdays rate cut would do little to tackle the Eurozones looming recession, especially if a 3rd LTRO is not announced at the new (low) refinancing rate. Failing to retest the $1.27 figure, EURUSD appears to be nearing the $1.20-bound path earlier than we had anticipated. Here are Friday's latest Premium Insights w/ charts on EURUSD & EURJPY as well as NFP, Jobless Claims & consumer Confidence. http://ashraflaidi.com/products/sub01/access/?a=664 Non Subscribers can click here: http://ashraflaidi.com/products/sub01/