Needless to say, EURUSD has made its way back to the top of my watch list after last week’s break below seven-month channel support. I have been apprehensive to trade the single-currency over the last few months as the price action had become increasingly choppy. However now that the pair has cleared the channel floor, the odds of a move lower have never looked more favorable. In fact, this break confirms what could be a bear flag pattern of a much larger price structure. This flag could be a sign that prices are likely to continue lower following last year’s 3,500 pip decline that began in early May. If this is the ... (full story)