Today we are watching EUR/USD on a weekly chart.
We can see that we have been in a uptrend lately but it is a part of the major downtrend that we have been through. We see that we are at the end of the triangle and need to choose to continue the uptrend or are we going back in downtrend. Personally, I think we'll take the dive and continue to +/- $1.04 . Eventually the whole economic situation that is starting between the U.S. and Europe will have a major influence. Could we actually see a switch here if the U.S. comes out stronger ?
Let me know what you guys think.