Tuesday, February 18, 2014

Time to Short the Euro? Bearish Butterfly Pattern

The EUR/USD has formed a Bearish Butterfly pattern on the Daily chart.  Point D is currently at the AB = CD projection (1.3767).  The high of the last completed candle is 1.3769.  The Daily charts of the AUD/USD, Gold, and WTI Crude are similar to this one of the EUR/USD.  They all suggest near-term dollar strength.  See chart.  Happy Trading.






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