Currency

Interesting price action on the EUR

FX:EURUSD   Euro / US-Dollar
53 1 4
My observations on the EUR$ picked up something very outstanding on this currency pair. Note the behavior of price each time it breaks and retest a prior trend line . If the structure is indeed a triangle, then we are going to be in consolidation for quite some time before the down trend resumes. Currently price action could develop in many different ways, but ultimately I see it going down to test the lower trend line of the pattern before going up.

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EUR$ appeared to be rejected near the previous trend line. It also broke the minor down trend. Wait for bull or bear flag to form before taking any trade. A small move up is possible before the huge down move.
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