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EURUSD: Support-line Is Broken- Watch Out For A Sell-off

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April 18 2013

EURUSD reversed sharply lower yesterday from 1.3200, clearly in impulsive fashion beneath rising trend-line from 1.2745 and as well as wave B) swing low. This is a very clear bearish price action that should send prices even lower in minimum three waves, possibly to 1.2900/1.2950 in the next few trading days. Meanwhile pair must not get back above 1.3200 critical level but could see a pull-back to 1.3110 where broken trend-line may become a resistance.


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