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22 FEB 2013 | Free Daily Analysis | EURUSD : Late Edition

G’day surfers – are we there yet?

Yesterday’s Report

Week three of the EURO sell off continued yesterday with another 90 pips disintegrating. Of greater significance is where the day concluded – right on the last Support! The seven month old Support Trendline #1 is currently being tested and is absolutely crucial to EUR/USD’s immediate future. In a free falling market, we can simply watch until some restraint is evident by way of pullback – yesterday there was none!

Technical Analysis

The integrity of the bespoke trendline is really the only thing that matters for EUR/USD currently. Should it be broken, EURO is destined to settle somewhere in the 1.20’s next week.

The Day Ahead

With that thought onboard, I will put the charts out of my mind and begin a relaxing weekend. I’m wishing you and your loved ones the very same. Have a great break everyone and save some time for you – I’m sure you deserve it !!

Both young children and old people have a lot of time on their hands. That’s probably why they get along so well.
Jonathan Carroll.

Geoff Pyne  

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