EUR/USD Technicals Point to Continuation of Downtrend

By Russell Glaser – The EUR/USD is showing a technical signal that the bullish correction may have exhausted itself. The weekly chart below shows last week’s trading formed a doji reversal. Behind the candlestick, we can assume that the bulls have lost control of the market and the bearish trend could continue in the near term.

Forex Market Analysis provided by Forex Yard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.