Possible Short Term Triangle in EURUSD

Published April 1st, 2009 - 11:52 GMT
Al Bawaba
Al Bawaba

There is a possible triangle in the EURUSD from Monday's low.  It is conjecture at this point, but the triangle would fit as a 4th wave within an initial 5 waves down from 1.3740.  Remaining below 1.3287 keeps the triangle pattern favored as it is presented here and the EURUSD on course towards a break below 1.3113.  A bearish target is 1.30 (2/23 high).