Euro Technical Outlook

Published March 4th, 2009 - 07:32 GMT
Al Bawaba
Al Bawaba



 

The last month has been so extremely frustrating from a forecasting / trading perspective.  Since the January 23th low, the EURUSD has unfolded in a triangle and terminal thrust or zigzag and ending diagonal or both.  The point is that all price action for over the past month has been corrective.  Know though that once the turn occurs, it will likely be fast as turns that occur from ending diagonals are quick.  Until that turn occurs, the EURUSD likely continues its frustrating choppy trade.  There are 2 areas to look for longs; the low side of the diagonal line and a break of the top side.