Possibility of Euro to decline further

The euro finished the week down against the US dollar, but the bulk of the pair’s decrease happened on Friday after the introduction of better than anticipated US non-farm payroll outcomes. EUR/USD fell around 200 points and finished under trend-line and psychological support at 1.4000, indicating that from a technical viewpoint, supplementary decrease might be coming up for the pair. There is as well probably for EUR/USD decrease from a basic viewpoint considering the European Central Bank’s (ECB) latest conference. The ECB left rates unmoved at one %, and ECB President Jean-Claude Trichet’s succeeding press meeting at first provided some support for the euro, since he described existing rates “appropriate” and stated that latest data indicates that the Euro-zone slump can have hit the bottom throughout the preceding 2 quarters.