Looking Ahead

15 Nov 2012

EUR/USD Chart. So far the V/C&H pattern has broken out twice, and with a possibility of a third, in each subsequent fibonacci time zones. Zone 89 could be very critical. If the zone 89 displays the price as stabilzed, we might have to wait much longer to Zone 144 before deciding who wins this battle. A breakout above the next vertical fib, 2.618 + $1.2772, would trigger a short squeeze. If zone 89 is bearish, shorts can rest assure and ring the register at a later date. For now momentum is favoring the bulls.

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investopedia.com/terms/c/cupandhandle.asp
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