Downward Triangle Setup for the EURUSD

24 de jul. de 2013

Here is my view on the EURUSD for the next month. Im looking for resistance around the 1.33 mark then a pull back to the main support line of 1.28. I am really doubting the ability of this to get over the 1.34 mark unless the US FED decides the US economy is still to weak to begin the taper/tightening schedule like they were expecting to. If the US numbers are weak and the FED doesn't start to begin tapering in Sept. then watch for this to make a break out of the current trend and move towards the next major resistance mark of 1.36.