EUR/USD Collapse in Days, Weeks Ahead?
Last updated 1/19/2010 3:07 PM EST (GMT -5)
3 Comments Tags: resistance, daily, pattern, support, rally, bear, trendline, bearish
Roger A. Stojsic
Technical Analyst, GFTEUR/USD
N\ALast Updated: 10 min ago
The EUR/USD started the week off with a rally to bear trendline resistance established during last week's decline, then dropped off sharply overnight to previously established resistance near 1.4260. This may prove to be a critical level as prices are coming down off longer-term 38.2% resistance which oftentimes signals a strongly trending market.
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