18:20 EUR/USD: Ever Draw A Line On A Chart & Forget To Erase It? New York, March 25th. It"s weird how these things work sometimes, but now and then you draw a short term line on a chart, it gets violated, and then several weeks later after price action sideways it comes back into play again. Well on the daily study, a line across the Nov 21 and Dec 4 "08 lows was broken on Jan 20 this year, straddled it until Jan 29 then finally broke lower. Well lo and behold, pulling up the daily today, minding our own business looking for some Bolly Band resistance and there it is 1.3662. We"ve been straddling it since March 19th, the day after FOMC day and just can"t seem to break away. It"s now a resistance line, and whilst it really should have no bearing on price action, it sure looks like it is exerting some influence - funny how that happens.
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