Triangle forming | 12 November 2013
12 November 2013, EUR/USD
There is a possible flag or triangle pattern forming on the chart, which is near to completion. When it has finished it will probably break to the downside and extend the short-term trend down. 3 out of the probable 5 waves have formed and so it is most likely that the next move down will go from the current level to 1.3350 and then swing higher again to 1.3405 to end. There is major support at 1.3344 and a break below 1.3315 would be necessary to add confirmation and a downside target of 1.3255.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
