Taking a look at EURUSD Daily chart pennant pattern, i was expecting in my last analysis for the EURUSD to break the trend line but as always we have to listen to the market. But bottom line is this pattern is compressing, so we have to be patient which way it is going to be breaking out ultimately. If it breaks to the downside that means USD is going to get more strength, so lets see if it breaks the June lows and this is going to govern how other markets are going to be like Silver, Gold and certainly other currencies with respect to USD. To be honest, personally my view is bearish. But anyway, keep an eye on this market.
i am expecting it test support and then up :P lets see
UmarAbdurRehman
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@idreesia, As i spoke about this in the webinar, current short term picture looks like it may test 1.1850 and once it gets there, we will re asses this market for further direction. lets better stick with making money not forecasting :)
We're probably going to touch 1.15 if it goes under 1.16459 :D