Well, I am not sure about that, but since the EUR/USD double top has already formed (1.3096 - 1.3099) and the price almost touched the strong resistance line at 1.3100, I think the pair will be going down for a while.

I would like to notice that there is an uptrend line stretching from 10th of December, and the price has just touched it at 1.3043 price. If this line is broken and the price will not bounce of it, I expect further movement South till the 1.2880 level. If the price goes beyond 1.3060 level - it's a good sign to buy the EUR/USD pair with stops below 1.3040, with targets at 1.3100 level.

Brought by forexsignals24.com

Views: 160

Tags: EUR buy signals, EUR-USD, EUR/USD, EUR/USD sell, forex alerts, forex signals

Comment

You need to be a member of Forex Social Network to add comments!

Join Forex Social Network

Members

© 2014   Created by FXStreet.

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video