2007-10-18

EUR/USD 4 day chartBasicaly we are going to the top.
We hoped EUR *not* to pass the previous high, but it hapened, so we *DO NOT HAVE* double top. Once price go to upper boundary, we may expect price to go down, at least to a parallel line (not shown) from last (upper) low.
EUR/USD 4h chartHere you are a 4 hours chart. Two possibilities:
Scenario 1. We may have parallel channel. In such case price must raise to ~ 1.43.50. This is not impossible. Then - down to 1.43.10 consolidate, later to 1.41.90,
Scenario 2. We may have a wedge (brown line). In such case, we already hit the high today 1.43.09. This means now - down to 1.41.90, then - up again, but lower high, and then break down from the wedge to about 1.40

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