That's basically sums it up on the market and so far I'm playing the long side breakout buying dips. I may change my view and trade the short side once the E/U breaks short of this range, maybe this week or the next, or who knows when.
Cheers
Cheers
DislikedEURUSD is currently resisted by another super long term trendline on the daily. Point 3 of the falling channel was touched last week.
http://i46.tinypic.com/30ni4ut.png
Will EURUSD break above this down trendline? To answer that, lets take a closer look. Lets see the price action on the 4hr chart. There are 2 possible ways to analyze the 4hr chart.
For the bullish traders, EURUSD is in a symmetrical triangle. Symmetrical triangles are usually continuation patterns. Since the trend is up, the bullish traders will want to try bring...Ignored