EUR / USD update (daily)

FX:EURUSD   Euro / U.S. Dollar
This was a picture perfect CLONE HIT.The reason why cloning works is that more often than not price movements tend to move with equal up and down swings. They also plot support and resistance levels, but the best thing is that CLONES give you price projections.Like any other technical tool, it is best used with other indicators for further confirmation.One that works well with CLONING is the Fibonacci levels. The EURO has broken the up channel with a big red candle. The two near term downside targets are 1.3170 and if that doesn't hold then the next target is 1.3000. As I always say in most of my commentaries , MIND the DIVERGENCES.


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