For downtrending EURUSD, confluence overhead
A confluence of resistance overhead gives EURUSD bears plenty of room to lurk. Without a valid bullish reversal on the big picture, this one is likely to be a downtrend pair. A bearish reversal will provide cue on lower timeframe.
EURUSD action from January 2012 likely pullback only
Overlapping channel, weekly highs form confluence
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http://www.terraseeds.com/blog/2012/03/for-downtrending-eurusd-confluence-overhead/
