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EUR/USD...Triple Top or Ascending Triangle?
by S. Wade Hansen The back-and-forth on the EUR/USD has been supremely frustrating for many traders. Is it going to go up? Is it going to go down? We will learn a lot when the European Central Bank (ECB) gets together this week to announce interest rates, but I want to get your opinion. Do you think the EUR/USD is going to form a Triple Top and begin moving lower, or do you think the EUR/USD is going to form an Ascending Triangle and move higher? [B]Triple Top [/B] [IMG]http://www.pfxglobal.com/images/Wade/eur-usd_triple-top.png[/IMG] [B]Ascending Triangle[/B] [IMG]http://www.pfxglobal.com/images/Wade/eur-usd_ascending-triangle.png[/IMG] My current position is that the EUR/USD is going to form an Ascending Triangle, but I am going to be watching the ECB announcement and the subsequent market reaction to see if I am wrong. I will be poised to act on either outcome. To learn more about price patterns and how you can use them in your trading, check out the following three lessons: - [B]Price Patterns[/B] ([url]http://www.pfxglobal.com/index.php?option=com_content&task=view&id=1956[/url]) - [B]Continuation Patterns[/B] ([url]http://www.pfxglobal.com/index.php?option=com_content&task=view&id=2063[/url]) - [B]Reversal Patterns[/B] ([url]http://www.pfxglobal.com/index.php?option=com_content&task=view&id=2065[/url]) Each lesson has extensive [B]explanations [/B]and in-depth [B]videos[/B].
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