Thursday, January 19, 2012

EURO DAILY, breaking out of falling wedge?

A look at the EURUSD DAILY chart

Price action is poking above that descending trend line (upper boundary of the falling wedge).  If we get a sustained push expect SHORT covering to come in, and a sharp rally.  Sentiment is still BEARISH on the EURUSD and there is still a record SHORT position.. conditions RIPE for a BIG squeeze!!

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