Fat Forex Profits – The secrets of successful trading

It seems to me that Eur Usd is creating a massive triangle on the daily chart with the top currently sitting at 1.4250 and the bottom at 1.2670. Yes that is a massive triangle.

I feel that we broke a ascending trendline so the direction is bearish at least until the next ascending trendline, I’m targetting 1.37 and if that trend line breaks chances are big that this pair heads towards the bottom of the massive triangle at the sub 1.30 level.

However if my analysis is incorrect and it breaks out above 1.43 that would be very bullish and it may be possible to head to 1.50 if higher but for now I am not in favour of that idea.

Please remember that this analysis is only my personal opinion.

Any trades are done at your own risk and I take no responsibility for you acting on this or any of my other opinions or trading ideas.

Always do your own homework and never blindly follow someone else’s recommendations