EUR / USD view.

Even Gold and Silver are the most important topics from last week, I made relatively good percentage of profit on EUR / USD, so here you are an update on what is going on on currency market:

As we can see, EUR is trading very close to upper triangle line, but it did lower high, even close price in friday is higher close for the week.

We also can see, how the EUR bounces from middle line, which obviously act as support.

What to expect now - I believe now there are 2 scenarios:

1. EUR will fall sharply to 1.31, and will bounce again, at least to 1.3160.
2. EUR will fall, but very sloooow, and close to upper resistance line.
3. Third (backup) scenario - EUR will fall sharply to near 1.30 and will bounce from there.

I believe, in all cases, EUR will fall, but this fall shall be very welcome, so you will be able to "cover the shorts" (buy USD back), and to buy positions for next BIG leg up.

Happy trade.