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EURUSD: Broken Daily Trend-line puts The EUR in Bearish ModeTop ↑  Our Services Video Tour Subscribe to our newsletter May 13 2013 EURUSD fell sharply last week and closed well below 1.3034 swing low support which puts bearish price action in play. In fact, decline from 1.3195 was very strong and sharp which in many cases represents an impulsive wave and direction of a trend. As such, we need to respect this price action so we think it’s better to stick with the downtrend and look for possible short entries at this stage. From an Elliott Wave perspective we are tracking one-two, one-two set-up with sub-wave (ii) now underway to 1.3020/50 resistance area. The reason why we also expect bearish price action to continue is a broken channel line on the Daily chart as shown below. We however would turn bullish again only if we pass 1.3130 level. Trade well! EURUSD Intra-day  EURUSD Daily  For more analysis visit our website and Try our services absolutely free for 7-days! CLICK HERE Newsletter archive
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Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.
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