Continuing lower | 01 November 2013
01 November 2013, EUR/USD
The strong move down off the highs has met most of its targets with one remaining at 1.3520 and a break below the current 1.3540 lows would probably indicate a move down to that target if not further as the strong bar move unfolds. The first target doesn't offer the trader much reward but the next one lies at key support at 1.3485. The larger 25-pip chart is showing strong signs of reversal after the formation of a pole pattern, although downside seems to have slowed this morning. A break below the 1.3485 key lows, would set up a double bottom sell signal and provide a very bearish sign for the pair.
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.
