Momentum Building for Next Up Leg

10 ott 2015

EURUSD 2 hr time interval suggests price action readying for a break out into next quadrant above the medium term downward sloping trendline. In the interim, algorythms will try to stop hunt long stops on the way down towards support line of 1.1291 and possible retest of upward sloping trendline represented in blue on this chart. A breach at this level may take it down back towards 1.1188, but this is on the worst case outcome. For now, targeting 1.1600 level over next few trading sessions.