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So What Happened?

Hi all,

Hope you had a good trading day yesterday. Just a quick look back on yesterdays posts on the GBP and EUR and their trangle setups. If you remember, both were nearing the end of a triangular formation, as we waited to see which direction the breakup was to occur. As a reminder, here was the setup:



... and now to see if ours suspicions were confirmed of a downside breakout, let's look at the EUR chart this morning:


and, similiarly, the GBP/USD 1H chart:

So we see downside breaks on both of these, the moves, while decent, I think are far from over and I expect further tests of lower support levels. Best of luck with it all, see you online.

Happy trading!

This entry was posted on Thursday, December 08, 2005 at 7:48:00 AM. You can skip to the end and leave a response.

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Posted by Anonymous Anonymous:
Thursday, December 08, 2005 8:41:00 AM

I think we'll see these breakouts sooner rather than later. I'm thinking that the euro will test the 1.1600 level finally, but will likely return to the 1.1700 afterwards to test the resistance.    



Posted by Blogger Akuma99:
Thursday, December 08, 2005 1:12:00 PM

I have been following your thoughts on the EUR for a while david, and while we perhaps trade from two different sides (technical vs fundamental), I share your view. Kepp up the great work with your site by the way :)    



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