(1,3135) The EUR/DOLL formed a negative outside day missing by a few pips to form a key day reversal, negative of course!! We have now 1,3310 – 1,3145 the levels to follow in the coming hours; a daily closing below 1,3145 will support further weakness, but also a triple top suggesting a return toward 1,30 if not even 1,2950!! While below 1,3170 Europe will start today’s session with a gap down. The indicators of the daily chart are already below the line and also those of the s/t ones are negative supporting further weakness. In the hourly chart we have however already oversold conditions while showing a potential positive reversal. This could limit the downside; however, having formed a triple top or if you want a double top, we believe the retracement potential is greater, at least toward 1,3080, especially while below 1,3170, now resistance. We try therefore remaining short for a 1,3090 undershooting. Only a return above the 200 hours line, now found at 1,3201, will abort further weakness. We move the stop already to 1,3235, above the 61,8 Fibonacci retracement of the present drop since yesterday’s top at 1,33!!
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