Wednesday, October 27, 2010

Looks like the EURUSD is forming a bullflag

the Euro's rise in the past 2 months certainly surprised many prominent market forecaster's who were calling for euro parity. the recent pullback in the euro looks as if its creating a bullflag pattern on the 120min chart. it is reaching oversold levels currently, it could also be forming a inverse head and shoulder. When the euro breaks 1.41, look for it to hit 1.45 in a hurry.

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