EU is ready for a tumble.

FOREXCOM:EURUSD   Euro / U.S. Dollar
Looking at the daily chart , we can see that the head and shoulders pattern is still in play. I spotted a downward channel forming, which suggest that we should see a move downward soon. Further confirmation comes at the hand of the major sell off tail we see on the daily chart . Clearly we see some aggressive sellers in the market and they are making the price stay true to the downward channel's upper trend line . Looking for price to rebound around the 1.1450 area. A reversal may be appropriate in this area, but only time will tell.


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