". Trading The Lines: EUR USD Still In Bearish Zone

Monday, December 14, 2009

EUR USD Still In Bearish Zone


I will try to apply the "single line" in EURUSD


(EURUSD, Daily Time frame, 14-12-09 10:50 PM WIB)


Explanation

From the image above, it became clear that the EUR is in bearish zone.
Support line (red line) has been passed, MA 60 (moving average) yellow lines have also gone through.
Position should have a short position since the support line and the MA 60, burst.
Reversal occurs if the resistance line (blue line) has been passed, and candelstick / price closed above the line.

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