Thursday, February 10, 2011

EURUSD had the possibility of forming double top


EURUSD is forming a b wave with the possibility of forming a double top. The price fail to break the support yesterday and had rise near to resistance area. The intermediate support is at 1.3676 and 1.36. The resistance is at 1.3757~1.3800.


EURUSD show a bullish candle yesterday. The target for the upside is at 1.3800 and 1.3860. If the rising trendline break, there is a possibility that the downside target is at 1.3400. 


By The Backyard Burner

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Fear of failure

Fear of failure