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EUR/USD Classical Technical Report 05.23

EUR/USD Classical Technical Report 05.23

2011-05-23 05:32:00
Joel Kruger, Technical Strategist
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EURUSD_Classical_body_eur.png, EUR/USD Classical Technical Report 05.23

EUR/USD: The market continues to show signs of weakness following the break below 1.4155 support several days back, and the risks from here are for deeper setbacks over the coming days towards next key support in the 1.3800’s. Look for a clear break below 1.4045 to confirm and accelerate, while any rallies should be well capped ahead of 1.4350.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com

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