Forexzilla.org

Yesterday the forex market was extremely volatile. After the stronger than expected ZEW index EUR hit another all-time high @ 1.5494. In the early US trading Fed announced further attempts to enhance liquidity via an expanded securities lending program and increased to its swap lines with the ECB and SNB. This signalled massive sell off in the EUR/USD pair and rally in stocks. The daily candlesticks chart looks top heavy with haramii and hanging man reversal patterns. Sotchastics oscilator is giving sell signal also and if in the next few days support @ 1.5280 is broke a correction towards 1.5140 is possible.