EURUSD Continuing the Bearish Move Short

Euro Fx/U.S. DollarFXCM

Description

⋅ Mar 13, 2013 10:39 AM

After it broke the channels, the Euro dropped to 1.3 where it has consolidated in a symmetrical triangle. This might just mean that it took a break before continuing the currently down trend. The RSI has a correction under 50 level. Next important support is at 1.2687. An up break might just take the price back to retest the broken trend line...still I bet on bears.

Comments

LEONES

⋅ Mar 25, 2013 10:40 PM

Not so linear but going there

QuantitativeExhaustion

⋅ Mar 13, 2013 9:39 PM

Still possible we have a quick throwback before going lower

Razvan

⋅ Mar 14, 2013 6:41 AM

True :)

QuantitativeExhaustion

⋅ Mar 15, 2013 4:28 PM

There's your throwback

Razvan

⋅ Jun 28, 2013 1:25 PM

Nice call

DrFX

⋅ Mar 13, 2013 11:42 AM

yes, bearish, looks to me as if we are holding the larger channel tradingview.com/v/FO9yVKIE/

Razvan

⋅ Mar 13, 2013 11:54 AM

Nice Chart!

dedenfd

⋅ Mar 13, 2013 11:12 AM

I do bet on bears too, Razvan, this is my simple chart , and it says down too

tradingview.com/e/qYzdzKLX/

Razvan

⋅ Mar 13, 2013 11:26 AM

Clean and simple!

lgiulian

⋅ Mar 13, 2013 11:07 AM

I think on 2013-02-01 was a reversal for the up trend. For me the main trend is down now. On H4 is quite clear the new move is quite strong. The breakout from the channel and the symmetrical triangle after are enough for me to agree with this analyze.