#EURUSD #6E_F 27/03/13

6 days ago I wondered if the Euro would find support at the nvpoc hvn gap area:

blog_support_level

The gap and nvpoc were tested to the tick. The area didnt hold today. Price actually closed 2 futures gaps and nvpocs in 1 day this week (see next chart).

Euro_intraday_270313

Another failed breakout on euro to the upside, it actually broke the trend line to the downside (descent has quickened, euro has gone on the black slopes). Waiting to see if it tests the area mentioned above and if so then if it gets to the base of the recently formed range at 200 EMA / 12900)

Price took a bounce today at the HVN created in November at 1.2767 (futures is 7 pts higher than spot so on spot it is 1.276).

euro_composite_trend

If it doesnt stop there then the next HVN below is 1.2620 created between May and September 2012.

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