Resistance just above for EURUSD
With the top of “the pipe” just above at 146.32, we’ll have to see if we are in for counter-trending price action and — today aside — a continuation toward smaller ranges, or a breakout toward 150.00. Given so many of the markets recent records regarding failed break-outs, it seems more likely that we see a continuation of the current saw-tooth pattern.
For a further description of “the pipe” see: http://trading-u.com/blog/index.php/archives/756
Jay Norris
800-971-2154
jnorris@brewerinvestmentgroup.com
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