Triple Top Euro (Daily) Feb 1st?

Discussion in 'Forex' started by jsmooth, Feb 1, 2008.

  1. jsmooth


    Triple Top Euro (Daily) forming?....or just a headfake before we blast through 1.50?

    Man, I've been fighting the euro all week (building a long position for todays news) thinking we would test 1.50 (or at least the stops above 4965+) after this second FED cut and NFP today, and really try to get a homerun trade working....Now it looks like a textbook Triple Top is forming on the daily. Whats everyone think (especially going into next week with the ECB rate decisions)?
  2. Technically it looks bearish to me with some neg div on macd daily and the long wicks.

    I think we need to break 4970 to see it continue north.

    Until then it's more or less a wait and see.
  3. IMO Euro will continue to be range-bound for some months.