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EUR/USD Finally Turns Bearish

Sameer Kapoor 21 November 2013

EUR/USD Finally Turns Bearish EUR/USD has finally turned bearish after very complex and slow recovery from 1.3293 low. We believe this is a corrective move that is now showing signs of completion around 1.3576.

The reason is latest sharp decline through the lower support line of a corrective channel which is important break for a continuation in the direction of a trend, which is down.

We expect a revisit of 1.3293 in the next few days.

Forex Analysis by Gregor Horvat at ForexPros. com