TIME TO BUY EURUSD, 17TH MARCH, 2009

GET READY TO BUY EURUSD AND CONTINUE BUYING GBPUSD

The EURUSD pair is currently trading inside a consolidated triangle pattern in the 1HOUR chart. Luckily for us, this type of triangle is an ascending one showing that the price of EURUSD is going to move up once prices broke outside the triangle upwards. As a matter of fact, we hope to be buying this pair once prices broke outside this triangle from above. But if prices broke downwards, the signal is no more effective and we will forget about trading for now. You can set a buy stop order to buy above the current price at 1.3050. Take profit at 1.3100

 

Summary:  Buy EURUSD and continue to buy GBPUSD

 

HAPPY TRADING

 

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