Thursday, July 19, 2012

Ascending triangles GU, EUR

GU and EUR 4hr charts are showing similar ascending triangle patterns. See the chart patterns link to read up on it. GU has tested the back of the broken upper trend line, see D chart, which is showing hammers that could not break through the upper R level at 5670.


Despite these patterns the moves up are not convincing and my view is we can take good buy or sell set ups today (we'll see if Mrs V is feeling better). The strong previous candles could not follow through as they should do.

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