October 27, 2014

EURUSD Trend update

  • First chart shows the Monthly time frame which is near a support band between 1.20 - 1.25.
  • Weekly chart shows a Bearish flag breakdown with possible target of 1.20 levels. Weekly close below 1.20 will further extend the down trend.
  • Daily chart too shows the Ichimoku cloud as strong resistance. Any possible bounce only on price staying above the cloud.

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