EUR/USD (daily chart) as of Thursday (6/30/2011) has reached up to hit the upper border of a large triangle consolidation pattern with its high at the early May 1.4940 high and its low at the late May 1.3970 low. Price has not only reached the upper border of this triangle, but has also slightly surpassed key resistance around the 1.4500 price region. Therefore, price is currently at a critical juncture. With the last four days showing marked bullishness, the pair should soon experience some form of bearish retracement. Despite any retracement or correction, in the event of a strong breakout above this triangle’s ... (full story)