EURUSD progress in channel

Evening traders,

I have a chart of the EURUSD for today.

In my last post on the EUR/USD currency pair, I identified a few chart patterns. One was a head-and shoulders with an upward breakout. Sadly, price did not trade as what I was looking for. Nevermind that, life goes on, and you just have to move along. The good thing is, the EURUSD is still moving well inside the large parallel channel. Around the second week of this month, the EURUSD traded at as low as 1.385 – testing the 200-day MA and nearing the bottom of the parallel channel. Thankfully, price rebounded and now it is at 1.43. Talk about a turnaround at a support region.

Let’s continue to see how the EURUSD goes, bearing in mind I have a target of 1.55 for the longer run.

All analyses, recommendations, discussions and other information herein are published for general information. Readers should not rely solely on the information published on this blog and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: