Euro strength ?

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EURGBP : DAY Chart (Posted Below)

Hope you all had a great week end and one or two of you may have had slightly longer off due to last Thursday and Friday. Having looked at the EUR last week, and scanning through my crosses I have chosen the EURGBP for the week ahead, due to some anticipation for the week ahead.

Price has been in a downtrend since 30 December 2008 and is currently bouncing off support drawn since 20 October 2008. I have also drawn some trendlines on the cross since its downtrend and together are setting up very nicely for something to happen ? You will observe the sqeeze that price is currently in, the major RN and burst the banks could be this week ???

Even though price has been in the downtrend, once the key support was met, price has walked the line. Now it may be time for you to talk the walk !

With "Elliot Wave" on the chart, the MOB is sitting interestly above the MAJOR KEY No "1.00"

What do you see ?

What do you NOT see ?
















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst



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