11-12-08
3:56a GMT – The EUR/USD finally broke through its triangle consolidation pattern and made a quick dash to 1.2500 which I have been predicting for weeks. On the latest stall I thought it was going to return to the top of the wedge but it did not. Now, the pair still is technically very bearish and a break below 1.2300 will make it even more bearish. In the short term I am looking to sell rallies.
Trading Idea: Shorts favored on rallies, most likely around the 1.2650 resistance level. Short targets favored back down to 1.2500, 1.2400 and eventually a challenge of 1.2300.
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Your specialization on EURUSD is really paying off.Keep up the good job you are doing on this site.God bless you.