Bear trend in play | 11 November 2013

11 November 2013, EUR/USD

The EUR/USD pair is in a new down-trend which will probably extend lower. The current bearish count on the 5-pip chart is 1.3265, but there is also a longer-term target at 1.3070. A break below 1.3315 or the 1.3295 lows would provide bearish confirmation of a continuation lower. Any further upside is currently capped by an old trend-line, but if there is a break higher then it will probably only reach as high as 1.3400 where there is a cluster of particularly strong resistance levels which are likely to prevent it from rising any higher.
Bear trend in play
Mark Satcher
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus