EUR USD under the negative pattern’s effect 25/06/2013
Economies.com
2013-06-25 05:29AM UTC
The pair is retesting the previously broken 50% Fibonacci level which turns into resistance now at 1.3125, and remains stable below it, which keeps the intraday bearish trend valid, supported by stochastic negativity.
On the other hand, we notice a head and shoulders pattern that was completed by breaking 1.3175 level, this pattern’s targets reach towards 1.2940, which supports the bearish trend continuation in the upcoming period, unless 1.3125 – 1.3175 levels were breached.
Expected trading range for today is between: 1.2940 support and 1.3195 resistance.
Expected trend for today: Bearish
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