EUR/USD, down trendlines all over the place!
EUR/USD is under pressure and aproached at previous yearly low from December 08. This is not only previous support from that date, it’s previous support from July 2012., there is up trendline from 2010., there is Monthly MA200 as well. Whether the euro bulls defend this support and turn the situation now? It’s time, now or never! Technical analysis and trend is not favorable to them and this is looking like the level could be broken!? How do you see this?
Stop loss hunting? Monthly MA200 still holding the pair on the way down.
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Technical analysis never lie, 1.2240/50 is broken. The pair manage to bounce up at 1.2300, but as I wrote previously, there was to many down trendlines and downtrend was to strong today!