At the moment, EUR/USD has fallen to its weekly conservative bearish target. However, if you notice, the top of the week is a Monthly Central Pivot. This may indicated further downside for the currency pair... perhaps just not today.
Wayne McDonell has has been trading forex full time since 2004. He is the Chief Market Strategist for TradersWay.com He is the author of "Strategic and Tactical Forex Trading" and his foreign currency analysis appeared on Bloomberg TV, Wall Street Journal and many others. He is also the founder of FX BOOTCAMP.
