In last few days we witnessed huge decreases on EURUSD. Yesterday also February ended and there is another candle with long upper wick on this time frame. One look at the monthly chart shows that trend is bearish and current consolidation is just a stop before further depreciation.

THIS ANALYSIS WAS CREATED IN COOPERATION WITH XM BROKER. OPEN FREE XM ACCOUNT AND GET FREE $30 FOR YOUR TRADING.

2-1024x433

We should be more interested in daily chart. During last few days important support and trend line were broken. This setup is a sign of going back to main (bearish) trend. Yesterday’s candle is similar to Pin Bar, it is not real falling star pattern but it has long upper wick pointing correction and it is clearly bearish one. It is in pair with our expectations, we should see some decreases soon.

1-1024x435

Leave us a comment!

Ransquawk