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Friday, December 13, 2013

EUR/USD is breaking below support indicating more downside action...

 
 
EUR/USD:

Is breaking below support at 1.3738 indicating, that a five wave decline from the 1.3811 high.

Ideally we should see resistance at 1.3769 protect the upside for a continuation lower towards 1.3664 and lower. A clear break below 1.3663 will confirm, that we have seen the top of wave 2 at 1.3811 and that the powerful wave 3 lower i developing.


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