Tagged "sustained break"

Technical Analysis ...

8-15-08

6:00a GMT – EUR/USD remains bearish on the charts with a sustained break below 1.5000. Pair is stilling heavily oversold but a few more days of sideways movement should ease that. For those doubting which direction the trend is in the shorter term: the pair has dropped 1300 pips in the past 30 days. Remember – it is easier to ride the trend then to bet against it.

Trading Idea: As long as the pair remains below 1.5000 shorts are favored with targets at 1.4865, 1.4775, and eventually all the back to strong support at 1.4450.

(click to enlarge)

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Technical Analysis

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