EURUSD at Risk of a Short Term Drop

Published May 13th, 2009 - 12:47 GMT
Al Bawaba
Al Bawaba


The EURUSD is at risk of a short term corrective decline.  5 waves are completed from 1.3251 and hourly RSI is divergent with the recent high.  The Fibonacci zone expected to provide support is 1.3424/78.  The larger trend is considered up against 1.3251.