July 29, 2011

EURUSD Trend update

  • Daily chart of EURUSD shows a bearish engulfing pattern.
  • Price in hour chart is trading below the cloud. Indicating a sell on rise price action.
  • Price is testing its 200 Hour moving average. Trend will completely turn bearish if price sustains below 200 Hour moving average.
  • Staying above 1.4330 level may give an up move for the pair.

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