EUR/USD: overbought – possible strong downtrend

Free Forex Signals SMS - EURUSDDuring the last Forex trading week we could witness a strong volatility on EUR/USD due to really important economic news and decisions from USA. Because of those decisions (or, better to say, lack of agreement) USD got heavily depreciated in just two hours and it's maintaining approximately at the same level until now. In that case we can consider EUR/USD to be overbought and we should expect strong downtrend starting even today.

One may open a sell position with a Take Profit at 1.36439 (last uptrend resistance from this month) and with a Stop Loss at 1.36830

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Free Forex Signals via SMS - EUR/USD

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