EUR/USD bearish from May?

EUR/USD is approaching the 1,35 mark. It is nearing the upside of a channel that is formed by 2 bottompoints at 1 May 2004 and 15 November 2005. The top in the middle was at 1 Januari 2005. Inside this channel the pair moved bearish until this 'medium' trend was broken at 1 Januari 2006.

So : "sell in May and go away"?

This pair has been pathetic this week and that can be ascribed to the uncertainties circling the state of the United States' economy, its rate of growth and the extent to which the Fed will go to contain (control) the rate of inflation. From a technical standpoint, the possible double-top on the chart could very well suggest a change of trend. Since we should not base our trades on astrology, however, we find ourselves in the predicament of having to wait and see what unfolds before taking on further action. A substantial breach of the resistance line you drew would confirm a continuation of the trend. The same can be said about GBP/USD, which has been ranging since early December of the past year.