Tuesday, April 21, 2009

EUR USD Chart

eur usd 240 mins 19.04

EUR USD 240 mins chart 19.04

The support line at 1.31 was crucial. A break below saw consistent selling pressure on the pair. Infact this pair has been a multi touch support/resistance line in the past few months. The bear trend for the pair has resumed. We have this parallel channel guiding the move down. Currently near lower end of channel, might see slight bounce from here. If it comes anywhere near the 1.31 level, traders can go short.