Price action EA

200 pips range for almost 2 weeks !

it seems that we are now trapped in a range of roughly 200 pips for almost 2 weeks already, will we be trapped in this range for the rest of the month or will we see a strong break in either direction? on the daily chart things seems to be more of a bearish tone with very limited upside potential, hopefully we will get a good move once this range is broken.

EU the week ahead

the lower trendline and the support at 1.4840/00 still seems intact, price action might be choppy here as we expect the bulls and bears to fight for control at this area. The double top bearish reversal will still hold true as long as the top does not get taken out. if it breaks, we might look for a possible 400pips correction in the pair to retest the 1.4447 area.

Double top with outside day reversal pattern

9th November 2009

NFP and FOMC week