Friday, December 3, 2010

EURUSD in bullish channel

 
The EURUSD now at uptrend at lower time frame and staling at the inverse H&S neckline. It may dropped back to 1.316 before going up again targeting 1.34 for the inverse H&S.


If the current wave is wave 4, the target is 1.34 or 1.36 depending on condition. The price may stall at this level before continue. Until proven otherwise, we will assume the current wave is wave 4.



By The Backyard Burner

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Fear of failure

Fear of failure