Thursday, 12 March 2015

EUR/USD rallying from March's hourly chart down trend at key big picture juncture

Hourly chart shows EUR/USD rallying from March's down trend channel.



Weekly chart shows the big picture. EUR/USD testing the bottom of the trend channel drawn from 2008's high.




Zooming in on the weekly we see that EUR/USD only needs to rally a little further to return to the channel and raise the possibility that the action of the last 24 hours was a bullish false break.