fxtrends

EUR/USD: Long-term trendline supports for bull wewdge breakout

Long
FX:EURUSD   Euro / U.S. Dollar
A trendline dating back to mid-2010 has given the EUR/USD traction. Yesterday I observed (http://fxtrends2015.blogspot.com/ ) that retail trading activity had hinted of a near-term base. This has been complimented by Monday's price-action, which highlights a falling wedge . Typically, these type of formations are bullish and with "big speculators" short positions at an extreme and the retail crowd set to sell into rallies, I think the stage is being set for a short squeze rally.

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