FX:EURUSD   Euro Fx/U.S. Dollar
270 3 1
The EURO             could be temporarily topped here or it could meander around wiggling its way up for another couple hundred pips to maybe 1.39-40 area. The overall thought here is that the EURO             will make a larger move down soon. The arrow exaggerates my thoughts a little, I would like to see 1.30 first. This is a weekly chart so this can take a while to play out. There could be intraday trades going in the opposite direction. Good luck
To help you argue for this, is that price turned at the 5/8 fib of the swing may-11 and july-12. The slope of this last leg up is also much slower. However the fact it has returned to the 5/8 fib rather
strongly and disregarded many important resistance levels on the way, suggest a move towards 1,44. Still the trend line needs to be taken out. Once done many stops will trigger a rally upwards.
Still chances exist that the fib resistance and trendline will hold. And if the previous 1,38 top will hold also and price moves down towards 1,33 then chances are good 1,20 and later 1,11 will be reached.
My personal view.
I agree with this analysis, great
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