July 31, 2013

EURUSD violating support levels

  • EURUSD 4 Hour chart violating 50 period SMA. Closing below this line may give a good trade as it has done in the recent past.
  • Last chart shows price moving towards 23.6% Fib level. Falling below this level may give a bigger fall for EURUSD.
  • For bulls of EURUSD Need price to close back above 50 period SMA to avoid a fall.

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