Wednesday, 2 May 2012

EURUSD to test H&S neckline?

EURUSD pulls back down strongly on Wednesday after weak PMI anouncements in europe, German unemployment and fear over debt crisis in europe. The pair will probably test the green H&S neckline. Weak ADP employment change numbers push the markets even lower and it seems dollar is getting stronger. The april rise in this pair does not look impulsive in the daily chart imho.

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