EUR/USD on trend line. Everyone is waiting for more bearish moves but there will be no more down trend? Last week I made some anticipation of EUR/USD moves in article: EUR/USD near key resistance. More bullish move is almost sure?. First 2 parts are done – there was grow up to resistance, than fall down to up-trend line. Now there are 2 scenarios: rapid bullish trend – but price reaction is too little for that, or slow move up than retest of trend line and support (marked gold on chart) and than attack on June high: 1.3418. This is very interesting level. Many stop losse are there, even some institutions have stops there like: Merrill Lynch, Commerzbank, Credit Suisse, Barclays Capital. Breaking this level will trigger all this orders and probably cause very rapid move even to 1.3500. comparic/listings/eurusd-on-trend-line-everyone-is-waiting-for-more-bearish-moves-but-there-will-be-no-more-down-trend/
Posted on: Tue, 13 Aug 2013 06:45:53 +0000
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