Tue Jan 18 2011 7:26 am EST (GMT -5)

Radar Signal

Currency Pair: EUR/USD
Direction: Long

Trader Comments : Forex Signals - The EUR/USD is forming a small pennant on the 5-min chart and may be ready to break soon. Trading is volatile at this significant resistance and a breakout may fail quickly if it happens. We must consider the pair is already up 115 on the day. This may be a trade too quick for an entry signal if we decide to enter. We are looking for targets of 1.3460 and 1.3500 if 1.3420 is cleared. Be prepared for volatile price action.

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