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Euro could double top

By Joel Kruger, Technical Strategist
13 October 2009 20:23 GMT

DCeurusd1013

EUR/USD – No change from Monday…Although it would not be conventional, there is the risk for the formation of a short-term double top on the daily chart, with a break below 1.4480 over the coming days to confirm and accelerate declines back towards 1.4400. Daily studies are looking toppish and a break below 1.4645 should get things moving to the downside.  Ultimately, only back above 1.4845 negates. STAND ASIDE

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13 October 2009 20:23 GMT