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Deep fall puts trend in doubt

Deep fall puts trend in doubt | 16 October 2013

16 October 2013, EUR/USD

EUR/USD continues to consolidate, however, the slightly deeper fall to 1.3480, surpassing the previous 1.3490 lows yesterday technically reversed the trend, and although more evidence of weakness would be necessary, it has brought into the doubt the dominance of the up-trend overall. Today has been sideways so far, but, a move down to 1.3500 would activate a down-target to 1.3445; a break below 1.3460 would risk showing a breakdown below the neckline and be a very bearish sign.

Deep fall puts trend in doubt

Mark Satcher
Analyst of «FreshForex» company
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