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21st August 2010, 23:57
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Forex Signals for Euro, EURUSD Aug 22nd, 2010
Forex Signals for Euro, EURUSD Aug 22nd, 2010
Having lost the 1.2730 base, the path is now clear for an early resumption of the downtrend. Ideally this level will now contain as the downtrend resumes to the next 1.2580-1.2600 target zone. This area represents a full 50 percent retracement of the entire 1.1875 to 1.3335 rally. However, this move has the potential to accelerate the decline to a full 61.8 target of 1.2430. Only a move over the 1.2790 pivot point would suggest we have seen a premature or false downside break that would allow for a whipsaw upside recovery to again challenge the 1.2920 resistance before the decline resumes. [link removed]
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