January 3, 2012

EURUSD Trend update

  • Trend in weekly, Daily and Hour charts are clearly down.
  • Price is moving down in a channel. 
  • It has broken below the golden ratio as shown in weekly chart. 1.2850 - 1.2870 level is an important zone from were a decent bounce might happen as marked in the chart. Breaking below this level can take EURUSD Towards 78.6% Fib level.

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