Monday, 30 December 2013

EUR/USD weekly and 15 min charts - testing trend line drawn from 2008 and 2011 highs

Weekly chart illustrates the EUR/USD testing the trend line drawn from the 2008 and 2011 highs.

The fifteen minute chart of the final twenty four hours of trade last week shows that a fierce sell off began immediately following the touch of the weekly chart trend line. Will the sell off continue this week, or will the market rally to test the trend line again, perhaps ultimately break upwards?