Saturday, April 17, 2010

EUR/USD: Bullish to 1.4000 This Week?

(Click on the attached charts to enlarge them)
Daily Chart

I know you might think I´m crazy to say that the Euro might rally to 1.4000, specially after the major resistance at the price zone 1.3680.

But notice the major Double-Bottom at 1.3280 and the fact that prices are still out of its main Bearish Channel.

Also take a look at the 01-Hour chart below:


You can see a nice Wedge Falling being formed, which is a highly accurate pattern for Bullish Reversals.

My strategy then is to enter LONG at the support zone 1.3460 / 1.3385 or at the break of 1.3530 and 1.3560.