LADEEc57
Short

Breakout or Fakeout

FX_IDC:EURUSD   EURO / US DOLLAR
188 0 9
FX:EURUSD             Price action appears to want to break out of the upper trading range set back in May 2015, but it's inability to push through above 1.1463 is a concern here. The rising trend continuation seems awfully similar to the technicals set in late October of 2015, wanting to breakout only to reverse harshly lower. Same set-up here ? Furthermore, the other currencies ; like USDJPY             , USDCAD             , USDCHF             , were not positioned at lower ends as they are today, a slight reversal of these currencies can come at any time & poof goes down the EURUSD             . Also, the recent rise in XAUUSD             had pushed the EURUSD             along the rising trendline, but a reversal or waning of XAUUSD             could put downward pressure on the EURUSD             . A possible repeat of October's price action is possible here.
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