Sunday, 11 September 2011

EUR/USD a tale of two declines

Weekly candlestick chart is shown below, illustrating two declines, in 2008 and 2010, that both followed breaks below the 40 week moving average (breaks circled). With the new trend line break and another break below the 40 week moving average, will we see a third decline, of similar magnitude to the declines in 2008 and 2010?