EURUSD Price Action 29/08/14

FX:EURUSD   Euro / U.S. Dollar
211 0 2
This pair is currently in a downtrend as can be seen on the right side of the chart. The Gap that is shown in the chart was formed when the bar significantly opened below the low of the previous bar. This indicates that the market really want to go lower and the nearest previous support which turned to resistance is the 1.3230 level. Current price is going back up to this level and there might be a reversal near 1.3230 which in turn will continue the down movement. This could be a good opportunity to go short and trade with the trend.
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