Thursday, May 1, 2014

EURUSD BREAKS OUT OF DESCENDING TRENDLINE



EURUSD has broken out from its upper trendline which had been containing the pair and preventing it from moving further long, however, this was expected since price had given off a bullish hidden divergence on its wake. The way now seems clear for price to retest previous highs and possibly setting new ones. The trade room had gone long based on the cup and handle trade setup that was discussed April 24th.



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