Euro Trend Lines

Chart courtesy of Dynamic Traders. Data provided by eSignal.

I have put this daily Euro chart up after having a conversation with a lovely young lady earlier today about trendlines.
The chart did a reversal at 0.786 fib with a candlestick pattern, it broke the trendline and the Comms were also short. In addition to all that, historically as I mentioned in the beginning of the year, the Euro tends to fail against the Dollar in January so shorting the Euro was quite an obvious trade to take.

Trendlines are very useful when identifying possible support and resistance areas. Hopefully this has been useful for those who have not been applying trendlines.

I will put up tomorrows Pivots in the morning for Omar.

Good Night all and for those reading this on Thursday morning..........Good Morning to you.