EURUSD Breaking Down – May 14, 2010

May 14, 2010

EURUSD looks to be breaking down (blue circle) from its downward trading channel (indicated by the yellow lines) in the daily chart seen above. At the current price of 1.2432, the EURUSD has taken out the 2009 low of 1.2456. Looks like more bad news are coming in as the sentiments of people are on the bearish side.

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