Day: June 6, 2010

EUR/USD Descending Triangle Broken

EUR/USD has managed to form a descending triangle pattern during last 2 weeks and break out of it last Friday. The chart pattern was formed on the daily chart and is quite small (relatively to the breakout depth). The pattern should be quite strong as its bottom line was also a long-term end of the bearish trend lasting from November 26, 2009. The breakout happened near the apex of the triangle. The conservative target (derived […]