Thursday, May 31, 2012

FX Trade is not helping

It's important to see how the market reacts during a pullback, that's a chance to see what the underlying trade is doing, unfortunately, as of this moment, it looks like the EUR/USD may interfere with the pullback, although this is early.

 This small triangle in the EUR/USD looks like it wants to break out to the upside which would interrupt the market pullback as the triangle itself already has.

You can see the pullback on a 5 min chart is interrupted by the presence of the triangle.


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