A big DOWNWARD move is coming.

FX:EURUSD   Fx Euro/Dolar U.S.
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EURUSD pair moved quiet positively since it has made the low in the January. Trend looks bullish for the past couple of months. The pair created a gap of almost 100 pips on April 24, when the currency markets were opened and that has become a strong support area since then. The EURUSD pair did not see the correction and is moving upwards since then. Now the pair has reached the important resistance level at 1.1260-1.1300 which needs to be broken for further upward momentum and that seems highly unlikely as I am expecting USDX to recover this week which will ultimately push EURUSD pair down. USDX is at the critical cloud support and indicating a bounce which will be BEARISH for EURO . As you can see in the chart that Stochastic and RSI both are giving string bearish signals. Whenever the Stochastic overlaps, this indicates the opposite move is coming. As I clearly indicated the history of Stochastic's relationship with EURUSD pair move and that definitely makes sense. Keeping that mind I would suggest traders to sell EURUSD pair at current levels with the stop loss at 1.1400 with the targets at 1.0950, 1.0850, 1.0720.

Wish You Good Luck.
great ideas , it inspires me a lot . Many thanks
AnasRathore storm_wang
@storm_wang, You're welcome :)
AnasRathore storm_wang
@storm_wang, See the price is now at 1.1175, The downward move started now. More confirmation will be received on breaking below yesterday's low.
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