Euro Dollar Trendline under threat?

Published on Thursday February 17th, 2011 at 09:44PM by iwogar

Hmmm. Been watching the Euro consolidation for a while and it looks like the market is setting up for a trendline break. Treandline reaction was weak and hourly trendline support is still in tact. Tempting to short the market here in anticipation of a trendline bounce but the ABC correction already seems complete around the 40-50% fib level of the move from 1.2860. Anyway, sticking to 30-50 pip day trades for now. Should get resolution on the trend by friday.

4 comments

On Friday February 18th, 2011 at 04:42AM by buruguduy - Like - 0 People

Been watching this too and I decided to jump in. I think it is holding pretty well... hope i didnt jinx it by saying that.
On Friday February 18th, 2011 at 06:22AM by Rambo - Like - 0 People

Already broken I guess. Should be buying strongly. I have 1.3750 in my radar at the very least!
On Friday February 18th, 2011 at 06:19PM by iwogar - Like - 0 People

Good for you guys. Hope you're still hanging in there :-)
On Friday February 18th, 2011 at 09:23PM by iwogar - Like - 0 People

The final picture ... Clean breakout as expected, but did next to nothing about it. Pathetic. Experts call it the psychological gap :-(