Wednesday, May 2, 2012

Eur/Usd : Breaking out soon

Price has followed the alternative path in taking another leg higher. Now price is stuck between 2 contracting trendlines and a breakout to the downside is expected.

Geplaatst door op
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3 comments:

  1. Trading LecturesMay 6, 2012 at 8:13 PM

    hello ..

    Eur / usd had also a negative weekly close forming some sort of a bearish engulfing pattern ( not ideal but negative for buyers )

    http://s7.postimage.org/8ch7doah5/image.png


    hope you all the best my trader friend ..

    ReplyDelete
  2. Jeremy DemunterMay 6, 2012 at 11:46 PM

    Hi !

    Thanks for your comment! Yes, you are correct, but the only problem is the place of the candlestick pattern, it is not really at a major top. But nonetheless it shows strength for the bears. Important is now what happens at this support level around 1.3000.

    Friendly greetings,
    Jeremy

    ReplyDelete
  3. Trading LecturesMay 7, 2012 at 3:28 AM

    yes Jeremy that is why i am saying it is not perfect and now the market has opened with a gap about 50 pips ..

    let's see ..

    Regards ,,

    ReplyDelete

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