03/7/2013 7:00 GMT

EUR/USD closed under 1.2980 minimum from last week. Area around 1.3000 was tested few times and yesterday at least broken. What is more important, daily candle closed under this support what is another confirmation of direction.

Reaction seems to be lazy, and everything is screaming: SELL. Thats a little bit suspicious. If view is so clear why there is no bigger reaction. Maybe market is waiting for Friday payrolls.

Let’s not anticipate, let’s just look on chart and facts. Bearish trend is very strong, we have another confirmation of it, so just look for shorts opportunities. If price come again to 1.300 – 1.2980 look for sell signals. If it goes further another resistance is 1.3080. But if it breaks above it something will be wrong.

Summarize: direction is clear, traders should look only for shorts, but be careful as always.

Clear situation on EUR/USD - fall down seems to be certain

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Comparic.com Editor-in-Chief. Trading since 2004, professionally connected with Forex market since 2006. Fan of technical approach to the markets – currently focuses on Ichimoku Kinko Hyo and Price Action strategies. He focuses on favorable risk-reward ratio in his own transactions. Speaker at many conferences on investment in capital markets, as a lecturer he cooperates with the largest brokerages in Poland and in the world. Vice President of the FxCuffs Foundation – Education and Development of Financial Markets.