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Daily Outlook: Luckily there are some interesting times ahead for our favorite pair and a lot of different trading scenarios today! As you can see on the 4-hour chart (now to the upper right and with a pretty watermark when you click on it) the pair is forming a triangle consolidation pattern. This consolidation is a perfect example of how technicals mirror the fundamental world: the market is trying to figure out how to deal with the Greek (and Portugal, and Spain, and....) issue. If Greece defaults because it can't fund its debt, to what extent will the EU step in? And then if Portugal defaults, will the monetary fractures in Europe be too deep to fix? I can't blame the Germans for not wanting to finance Greece's bad planning.
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