Chart of the day
Tuesday, June 30th, 2009Hey all, here’s a great set up and something I believe would qualify as “chart of the day.” There are as many reasons why the EUR/JPY should go down as it should go up, so what we’re looking at here is a symmetrical triangle, there’s several points of contact on both the bottom and top of this triangle. It’s well established and ready for some kind of break sooner or later. If there’s enough reason for this pair to continue down then we could very likely see a bounce from this last point of contact on the decending trendline. However, if it’s to continue on with it’s current trend then this last point of contact could be the breaking level for the chart to makes it’s way on up to WR2. Either way, this chart deserves our attention, a great trade could come out of this. Good luck all!
Remember, click on image to enlarge



