August 8, 2008 02:59

Technical Analysis – EUR/USD More Downside

Posted In: Technical Analysis
By:

8-8-08

2:26a GMT – After my last EUR/USD full analysis predicting more losses I see more of the same as a major support level was broken this week below 1.5284. The pair is heavily oversold on almost all time frames up to and including daily charts so a slight rise to resistance between 1.5350-1.5380 could occur.

Trading Idea: Shorts favored below 1.5380 with targets back down to 1.5284, 1.5190 and eventually back down to 1.5055.

(click to enlarge)

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