Insights from Charlie Burton…

There’s a short term trend channel that the Euro/dollar pair is currently trading within (see chart). It has tested the upper range of that channel so we would normally be looking for it to test the rising lower trend-line at some point.

If price comes to test that channel line, be prepared for a bounce off it but also be aware that steep channels like this tend not to last as long as those with less steep gradients.

So it should be disrupted at some point and any break to the downside should see 1.37 hit. However, if the channel can hold and price rise back above 1.39, look for a run on 1.40.A

Charlie Burton

EzeeTrader

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