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Masoud EUR/USD Technical Review 9 May 12

 

Good day all.

 

Masoud is busy at work but he has kindly provided his technical analysis for the EUR/USD.

 

EUR/USD Technical Analysis

 

From a technical perspective:

 

As I said in the weekly analysis, I expected the EUR/USD to be in a downtrend.

Indeed so, the EUR/USD broke the bottom of the triangle and is now out of the triangle. The next possible bearish target to look out for would be a 500 pips drop derived from the start of the triangle.

 

Masoud

 

Read Masoud’s weekly EUR/USD forecast posted on 7 May 12 here.

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