Monday, June 23, 2014

eur/usd weekly short time down

EUR may have closed higher the past week, it remains  due to its negative candle formations seen on daily charts. Support lies at the 1.3564 point where a violation will aim at the 1.3500 point. A break will
aim at the 1.3450 point. Below here will pave the way for a move lower towards the 1.3400 point. If this continues, expect further downside to occur towards the 1.3350 point. On the other hand, resistance lies at the 1.3643 point with a cut through here targeting the 1.3685 point, its May 2014 low followed by the 1.3720 point. All in all, EUR remains biased to the downside in the short term.

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