Tuesday, February 23, 2010

EURUSD resuming trend

EURUSD took a good dip last week and also took a very good retrace and looks like it is settling into its downward trend and we might be looking at EURUSD going towards 1.3500 level.

Once EURUSD manages to break below 1.3500 level, we will be looking EURUSD aiming next below 1.3400 level and continuing its downward momentum.

As far as upward move is concerned, 1.3715 is an important level and if EURUSD manages to break that level, we might be looking at start of long term upward trend.


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