November 21, 2012

EURUSD Failed to maintain above 1.28

EURUSD Failed to maintain above 1.28

EURUSD losses 1.28  ground, as there is no fixed decision on Greece.

According to the market rhythm method on the EURUSD daily chart, the price already reached the typical pullback area at around EMA 21 = $1.2820. 

The EMA 21, together with SMA 200 will act as the resistance now. A break lower than SMA 89 and continues selling action will confirm the bearish rhythm.

MACD shows a Trend Continuation pattern, yet to be confirmed.
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About ArrowFX

Technically analyze the forex market mainly on USDJPY, EURUSD and GBPUSD by using market rhythm method started by Philip Nel on Forex Factory. The thread started on 2007 and still alive.
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