23rd May - Key Reversal Week in EUR/USD Spotted
23 May 2014
WEEKLY CHART:
A recent bearish key reversal
week was seen on the Weekly
chart. Initially, look for a test of the
1.3530 23.6% retracement.
DAILY CHART:
Failure at the rising resistance line
has seen breach of the rising
support line, an initial negative
sign.
Note dual support offered by the
1.3475 Jan low and channel base
projection. This is a little lower
than the 23.6% level on the
Weekly chart and would need to
be broken too in order to plump
the bears’ sails.
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19th May - Euro Sterling has broken