-
EUR/USD Sets Up a Consolidation Pattern Under 1.2440 Pivot
The EUR/USD is in consolidation so far this week after reaching a high of 1.2440 last Friday (8/3). During the 8/6 session, the fell to 1.2340, just above the 1.23-1.2330 pivot zone. So far price action has been consolidating between this 100-pip range, in fact making high lows and lower highs, forming a triangle. A breakout from the triangle suggests test of the consolidation boundaries. So far in the 1H chart, the market appears to maintain bullish bias as far as the RSI reading (momentum), moving average alignment (trend strength), and candlestick size (price action). The thing is, outside of this triangle there ... (full story)
- Comments
- Comment
- Subscribe
- Comment #1
- Quote
- Aug 7, 2012 7:25am Aug 7, 2012 7:25am
- Pip_tracker
- | Joined Feb 2012 | Status: Member | 612 Comments
- Comment #2
- Quote
- Aug 7, 2012 7:35am Aug 7, 2012 7:35am
- balanced2012
- | Commercial Member | Joined May 2012 | 34 Comments
“Don't cry because it's over, smile because it happened.â€
- Comment #3
- Quote
- Aug 7, 2012 7:39am Aug 7, 2012 7:39am
- cppolybd
- | Joined May 2012 | Status: Member | 800 Comments
- Comment #4
- Quote
- Aug 7, 2012 7:49am Aug 7, 2012 7:49am
- Pip_tracker
- | Joined Feb 2012 | Status: Member | 612 Comments
- Comment #5
- Quote
- Aug 7, 2012 7:54am Aug 7, 2012 7:54am
- Jj1459
- | Joined Apr 2012 | Status: Friend of trend! | 432 Comments
- Comment #6
- Quote
- Aug 7, 2012 8:07am Aug 7, 2012 8:07am
- Guest
- | IP XX.XX.254.22
- Comment #7
- Quote
- Aug 7, 2012 8:09am Aug 7, 2012 8:09am
- Berna
- | Joined Jul 2010 | Status: daQUEEN | 82 Comments
- Comment #8
- Quote
- Aug 7, 2012 8:25am Aug 7, 2012 8:25am
- jitu_kanani
- | Joined Jun 2011 | Status: Member | 42 Comments
- Comment #9
- Quote
- Aug 7, 2012 8:30am Aug 7, 2012 8:30am
- fxtimes
- | Commercial Member | Joined Nov 2009 | 402 Comments
- Comment #10
- Quote
- Aug 7, 2012 8:34am Aug 7, 2012 8:34am
- Berna
- | Joined Jul 2010 | Status: daQUEEN | 82 Comments
- Comment #11
- Quote
- Aug 7, 2012 8:37am Aug 7, 2012 8:37am
- jitu_kanani
- | Joined Jun 2011 | Status: Member | 42 Comments
- Comment #12
- Quote
- Aug 7, 2012 8:44am Aug 7, 2012 8:44am
- Guentong
- | Joined Jul 2011 | Status: Member | 40 Comments
- Comment #13
- Quote
- Aug 7, 2012 9:27am Aug 7, 2012 9:27am
- Guest
- | IP XX.XX.5.118
- Comment #14
- Quote
- Aug 7, 2012 9:42am Aug 7, 2012 9:42am
- Guentong
- | Joined Jul 2011 | Status: Member | 40 Comments
- Comment #15
- Quote
- Aug 7, 2012 9:48am Aug 7, 2012 9:48am
- jitu_kanani
- | Joined Jun 2011 | Status: Member | 42 Comments
- Comment #16
- Quote
- Aug 7, 2012 9:57am Aug 7, 2012 9:57am
- Max.Qiao
- | Joined Aug 2012 | Status: Member | 5 Comments
trade to be a better man
- Comment #17
- Quote
- Aug 7, 2012 10:15am Aug 7, 2012 10:15am
- Guest
- | IP XXX.XXX.32.167
- Comment #18
- Quote
- Aug 7, 2012 10:17am Aug 7, 2012 10:17am
- Guest
- | IP XXX.XXX.32.167
- Comment #19
- Quote
- Aug 7, 2012 10:22am Aug 7, 2012 10:22am
- Berna
- | Joined Jul 2010 | Status: daQUEEN | 82 Comments
- Comment #20
- Quote
- Aug 7, 2012 10:24am Aug 7, 2012 10:24am
- Loadedgun
- | Membership Revoked | Joined Sep 2010 | 3678 Comments
- Comment #21
- Quote
- Aug 7, 2012 10:37am Aug 7, 2012 10:37am
- Guest
- | IP XXX.XXX.32.167
- Comment #22
- Quote
- Aug 7, 2012 10:39am Aug 7, 2012 10:39am
- fxtimes
- | Commercial Member | Joined Nov 2009 | 402 Comments
- Comment #23
- Quote
- Aug 7, 2012 11:35am Aug 7, 2012 11:35am
- Berna
- | Joined Jul 2010 | Status: daQUEEN | 82 Comments
- Comment #24
- Quote
- Edited 3:30pm Aug 7, 2012 3:06pm | Edited 3:30pm
- Loadedgun
- | Membership Revoked | Joined Sep 2010 | 3678 Comments
- Comment #25
- Quote
- Edited 7:46pm Aug 7, 2012 4:11pm | Edited 7:46pm
- Loadedgun
- | Membership Revoked | Joined Sep 2010 | 3678 Comments
- Comment #26
- Quote
- Aug 7, 2012 8:04pm Aug 7, 2012 8:04pm
- Supertrader9
- Joined Jul 2012 | Status: Member | 3 Comments
- Comment #27
- Quote
- Aug 8, 2012 5:43am Aug 8, 2012 5:43am
- Loadedgun
- | Membership Revoked | Joined Sep 2010 | 3678 Comments
- Comment #28
- Quote
- Aug 8, 2012 6:22am Aug 8, 2012 6:22am
- ReaM
- | Joined Dec 2010 | Status: It's all about money. | 234 Comments
I found a penny today. That's +100 pips for me.
- Comment #29
- Quote
- Aug 8, 2012 6:44am Aug 8, 2012 6:44am
- Berna
- | Joined Jul 2010 | Status: daQUEEN | 82 Comments
- Comment #30
- Quote
- Aug 8, 2012 10:43am Aug 8, 2012 10:43am
- 4xHarpy
- | Joined Aug 2012 | Status: Junior Member | 1 Comment