EUR USD falls sharply 08/02/2013
Economies.com
2013-02-08 05:16AM UTC
The pair declined sharply yesterday after failing to breach 1.3600 level, to be effected by the double top pattern shown in the image, this pattern has negative targets that meet the upside channel’s support shown in the dashed lines.
The price might attempt to retest 1.3485 before falling back for more decline suggested for today, which targets 1.3250 level mainly, taking into consideration that breaching above 1.3485 will bring back the price to attempt resuming the main uptrend and stops the negative pattern’s effect.
Expected trading range for today is between: 1.3250 support and 1.3485 resistance.
Expected trend for today: Bearish
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