HighSky (HighSky)
Currencies  |  March 22, 2013 11:56:00

EURUSD at interesting crossroads ....

Although we are now trying again EURUSD away from its main declining trend channel current triangular formation in a downward trend (a, b, c, d, e) has a rather short character. So we'll see whether the end of the week will have a major currency pair on a larger influence news from the Cyprus Parliament, which is now under the scrutiny of global investors, and whether the price should already set off outside the outlined triangle.

eurusd, daily comment

Preferred scenario we see the continuation of the downward trend and finished fifth wave nearly two-month trend, if this wave can be further divided into smaller sequences in the next few days. Greater indicated breakdown current upper triangular formation could, however, refute this scenario.

Josef Kvarda, HighSky Brokers, Inc.

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