Wednesday, November 9, 2011

Technicals - EUR/USD What Now?

The ratio quickly bounced off the top of our channel and is now dead center middle in the pipe. But, the pipe is a fast downward pipe.

We think the present pipe is 5x5 but will be difficult to sustain because of its slope.

We don't know(!) A slight tendancy has appeared for an upward motion within the pipe. Be careful. We are not placing orders we do not intend to watch continuously for now.