Business-Insider

by S. Wade Hansen

The back-and-forth on the EUR/USD has been supremely frustrating for many traders. Is it going to go up? Is it going to go down? We will learn a lot when the European Central Bank (ECB) gets together this week to announce interest rates, but I want to get your opinion. Do you think the EUR/USD is going to form a Triple Top and begin moving lower, or do you think the EUR/USD is going to form an Ascending Triangle and move higher?

Triple Top


Ascending Triangle


My current position is that the EUR/USD is going to form an Ascending Triangle, but I am going to be watching the ECB announcement and the subsequent market reaction to see if I am wrong. I will be poised to act on either outcome.


To learn more about price patterns and how you can use them in your trading, check out the following three lessons:

- Price Patterns (http://www.pfxglobal.com/index.php?o...k=view&id=1956)

- Continuation Patterns (http://www.pfxglobal.com/index.php?o...k=view&id=2063)

- Reversal Patterns (http://www.pfxglobal.com/index.php?o...k=view&id=2065)

Each lesson has extensive explanations and in-depth videos.
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