Falling within consolidation | 10 October 2013
10 October 2013, EUR/USD
The 5-pip point and figure chart of EUR/USD shows prices currently falling in a short-term down-trend. The downside count lies at 1.3450 as illustrated on the chart below and I would expect prices to fall to there. This is also close to the 'neckline' for the consolidation pattern at the highs and so I would expect price to pause there and maybe even bounce. The larger consolidation pattern has the potential for a down-side break eventually, however.
.jpg "Falling within consolidation")
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
