Most of the pairs as we had predicted have eventually taken direction such as the Euro/Usd which is now headed lower but the plenty meetings this week will eventually determine the direction of the Euro.We are waiting to see if they will finally come up with a serious plan to save the 17 nation currency once and for all with proper steps in place on how to do it.
However, I am watching gbp/chf which has formed an ascending wedge and is breaking out on the 4hr.Waiting for a pull back and break to get in considering the swiss Francs weakness this last few days.
Cable is also in an ascending wedge formation which has not yet broken lower. It is currently supported at the 50 day MA and seems unable to break the LTL of the triangular pattern.We will also watch this pair as an opportunity to gain some pips may become available.A nice candle stick pin is forming at the moment but we have to wait and see how it finishes.
Lets watch these two pairs for an opportunity to to get some pips.
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