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Euro Double-Top Slides and More..

By Benny Nardino | September 15, 2008

Euro slided downward on morning trades amid chaos on the US market. A rare sight from past developments in across the pond. What is responsible this aberration of market trend?

The eurusd made a great leap of over 200 pips from Friday closing session.
A significant jump by a currency pair with an average daily trading range of 80 to 90 pips. The chart below shows the neckline of the double tops being broken. 

With the confluence of woes from the US economy and natural disaster over the weekend the Asian session traded to 1.4485 and currently at 1.4313.

However, with violation we may see a possible 1.4255 or there about today – the 38% of the minor trend in the last two weeks.

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