The following is the eurusd hourly chart as of Jan. 14th, 2010 around 12 AM EST. If you observe the graph you can see the there is a support line which was broken. But in the hourly chart the CCI and Stochastics have reached the oversold region. So temporarily the graph may rise up and then the support line may act as a resistance. Then it will come down again. Observe the daily chart also for the this currency pair. There is a strong bearish candlestick forming. Check the following pictures.

EURUSD hourly chart

eurusd daily chart

The following is EURJPY 4 hr chart as of Jan. 15th 12 AM EST. If you observe the chart you can see that there is a resistance line at the bottom of the chart and the resistance line broken with a strong bearish candlestick. Moreover CCI and Stochastics haven’t reached the oversold region yet. I am thinking that it will follow a downtrend now. What do you guys say?

EURJPY short trade opportunity