Monday, February 1, 2010

EURUSD - DOWNSIDE PREVAILED

The EUR is been facing a terrible time compared to the USD and today we hit a major ressistant again with the intra-day market overbought we may face another downturn to 1.3830. Alternatively a convincing break of 1.4000 may see an upside to about 1.4200 zone.

I have also noticed a hidden divergence on the 30min timeframe to the downside yet to be confirmed. Its a bearish anticipation looking at the chart below

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