Euro Dollar anticipated action

Hello Traders,

I have posted the EURUSD chart today. This pair has seen a steep downtrend since July and has been in consolidation mode for over a month. Today the price has reached 1.30 and appears to have broken the trendline. Although this may indicate an opportunity that everyone has been waiting for, it needs to be approached with caution. The reason is more apparent on the 240 chart below.

Price has broken through the shorter term trendline however, it is approaching a resistance level. MACD has been creating lower highs and not strictly following price. The note of caution is because trading the break out means trading against the trend. Employ the ESLT technique with the BOB to ensure safe trading.














Lots of high impact news items scheduled tomorrow, remember even capital conservation is part of good trading.

Bijal Shah

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