EURUSD Forecast

The EURUSD had another volatile but indecisive movement yesterday. The upper line of the triangle still provided a good intraday resistance area while on the downside 1.4350 support region still hold so far. Overall direction remains unclear as price is still in a consolidation phase inside the triangle and need a clear break from the triangle to see clearer direction. Aggressive intraday traders can still take the advantage of the current ranging market, short around the upper line of the triangle and 1.4500 or long around 1.4250 and the lower line of the triangle with tight stop loss as a break from the triangle could lead price to a new trending situation. We still have some spaces inside the triangle and probably can not expect a valid break from the triangle this weekend.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.