Forex Signals – Euro Dollar Downward Break

EURUSD Market Outlook

The breakout we were expecting came through yesterday. Price broke below the range boundary and continue to move lower as predicted.

The fundamental reason behind this Euro sell of was worse than expected German bond sale which increased fear regarding the Euro Zone debt crisis.

Let’s quickly look at EURUSD daily chart:

Forex Trading Signals

Daily Forex Signals (click to enlarge)

 

After the Breakout is complete we expect price to move up and re-test the range low at 1.3420-30 area. Most likely we will see a pullback from this area which will continue to the short selling of Euro.

Forex Signals

Keep in mind the upcoming Thanksgiving holiday in US on Friday.

Forex Trading Signal : Look for shorts if price manages to reach 1.3420-30 area. Remain bearish on this pair and look for opportunities to sell if price continues to move lower today, targeting 1.3250

Don’t agree with this analysis? Leave a comment below.

Related Posts:

Receive Forex Signals, Articles and latest Market Analysis straight in your Inbox by subscribing below:

Leave a Reply

To use reCAPTCHA you must get an API key from https://www.google.com/recaptcha/admin/create