EUR/USD Consolidates on the 240 minute chart |
|
The longer term timeframes have been consolidating over the week and while I don’t necessarily expect tomorrow to be the big breakout day I do want to keep an eye on this set up going into tomorrow and next week.
The market cycle is sideways and sets up this momentum play from the congestion of the triangle.
The overall (daily) trend of the EUR/USD is up and is currently sitting on Wave support and trading at the 1.3900 level.
Filed under: Chartology
Latest Posts
- Europe Ahead: United Kingdom budget report and EU summit
- Housing Data Await Investors, While the U.S. GDP Takes the Spotlight
- The Brief Daily Forecaster
- Weekly Indicator Review and General Outlook
- Gold Weekly Technical Outlook
- Gold Weekly Technical Outlook
- Gold Weekly Technical Outlook
- Gold Weekly Technical Outlook
- Gold Weekly Technical Outlook
- The Trading Week: Mar. 22 - Mar. 26
- Week 12 0f 2010 (Mar 22 – Mar 26)
- GBPUSD looking to continue momentum
- The BOJ grabs the world’s attention and India ends with a surprise
- Deficit Tackling Dominates the EU Agenda
- Busy Week for U.S. as Data Signals Economic Activity is Still Stabilizing in the World’s Largest Economy