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Saturday, June 18, 2011

EUR/USD - Ready for the next move lower














The above four charts of EUR/USD goes from the weekly top-chart to the lower 10 minute chart. The is no counts on the weekly and daily only the Pitchfork. As can be seen we are at a very critical point. The break below the lower Pitchfork line does not border well for EUR in the coming weeks/months. A break below important support at 139.69 will open the downside for a move down to 125.87.


Short term a break below 142.50 should confirm a minor top for the next challenge of supports at 141.28 and 140.73 with the Shoulder/Head/Shoulder target at 138.99.


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