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TFC Commodity Trading Forum

Euro/Testing Support/Again *PIC*

The Euro is testing the 130 level of support once again. Price successfully tested this price point in Feb, March, April and is once again testing 130. The chart pattern is bearish in all time frames with the 1 year downtrendline and 8 month downtrendline still intact and the shorter term moving averages all below the falling 200ema. The short term price pattern is a bearish Descending Triangle. A break below just under 130 support that holds would suggest a selloff back to the Jan lows which is about 5 full points and a test of that low again.