As reported by Market Leader (US)
Forex news, EURUSD.
Last week is marked with red for common European currency rate at Forex market, for it has dropped below local spring-summer low against US dollar. At the charts of all timeframes, from m15 and up, the line of support/resistance of AO_Zotik index signal about radically bearish trend, being located within negative points.
Interim flat, with the total range of below 40 standard points, encourages the careful study of the motion at lower timeframes. At this point specialists of the System of Early Prediction Sub-department of Masterforex-V Academy may see the start of sub-wave m15 structure. Further movement is to be predicted on the basis of whether impulse nature of the movement remains or fails. Read more...