Weekly bearish reversal candlestick for EUR
There is sign of possible bearish development in EURUSD exchange rate. As you can see on chart there is very bearish reversal candlestick on weekly chart . This one is developed right in resistance are. It indicates possible further weakness in EURUSD currency pair. I plan to enter short trade in this currency pair soon for my fund.
You can also trade this pair by using currency ETF stock FXE.
October 21st, 2009 at 7:06 am
On Aug 12, 2009 FXE closed at 142.03. Today it closed at 149.15. Any comments?
October 22nd, 2009 at 2:19 pm
It is right, bearish scenario did not worked and bulls are still in charge.
But based on my global macro fundamental analysis I do not trade this EUR bull trend. I prepare for strong reversal in EURUSD rate – it will be again very strong move I think