Be a Millionaire via Forex Trading-A journey to Over 1 MILLION USD IN LESS THAN 3 YEARS: EURO/USD HAS HALTED ITS MILD CORRECTION AND NOW RESUMING ITS BEARISH MOMENTUM ??

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Tuesday, June 22, 2010

EURO/USD HAS HALTED ITS MILD CORRECTION AND NOW RESUMING ITS BEARISH MOMENTUM ??

The currency pair EURO/USD has violated the very important Support level 1.2300, and it breaks the 50 EMA too on the H4, ,and it also breaks Both 20/14 EMA on the Daily Chart..

In my last posting on EURO/USD set up, I did recommend to Buy(Long) on Pull Back near 1.2300-1.2320 with confirmation from all other Technical Indicators before Entering your Trade or from here "--

http://millionaireclub88.blogspot.com/2010/06/outlook-on-eurousd-and-its-trade-set-up.html

If NOW the price action continues its plunge and breaks the next support near 1.2240, Then you may assume that the Currency Pair may have confirmed its Bearish Southern Journey, and it will expose 1.2150 before the next very important psychological level at 1.2000.

So please watch the Price action now, and take immediate opportunity to SELL SHORT the currency pair EURO/USD after breaking the 1.2240 level. Do use all other Technical Indicators to confirm your Entry.

The H4 chart :-