EUR USD inside a continuation pattern 15/07/2013
Economies.com
2013-07-15 00:03AM UTC
The pair is trading within a pennant pattern appears in the image, which means that breaching its resistance at 1.3085 will activate this pattern and lead for more gains towards 1.3200 followed by 1.3415, and stochastic supports this pattern.
Despite this pattern’s continuation nature, we prefer continuing in neutrality and monitoring the price behavior according to the mentioned resistance and 1.3030 support, as breaking this support will cancel the effect of this pattern and lead to bring back the negative pressure again.
Expected trading range for today is between: 1.2920 support and 1.3275 resistance.
Expected trend for today: Neutral
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