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According to forex trading daily charts if we see break signal to the downside, we could see further significant drop in cable in coming weeks.

The clear, current forex trading support is the last level, where the drop has stopped is the 1.4070 area, assuming that this is the wave of the "B" of the bigger decline of ABC correction that has been built from the low of 21 January.

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It is pretty obvious that the current downward movement took over 40% of last year's wave of growth. In addition we can see five wave movement which suggests that after the upward adjustment we should see another dip in EUR/USD to the new lows.

The fast pace of down trend forex signal on EUR/USD was no longer visible since yesterday. The negative sentiment on Wall Street did not help in the continued strengthening of the dollar. Published economic news were worse than expectations.

In recent days, poor behavior draws attention to the euro. Today in the morning EUR/USD was systematically dropping, pending index of Germany's ZEW Institute, which was worse than expected.

In the next few forex trading days the market will focus on the results of the U.S banks.The reaction of the market is as unpredictable as much as the results.Tomorrow reports from Citigroup and IBM on Wednesday,Bank of America and Bank of New York

Many investors believe that a good enough knowledge of forex signal technical analysis will provide the tools to achieve high profits. They rarely draw attention to other aspects such as the development of a forex signal system.

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