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domingo, 20 de marzo de 2011

Symmetrical triangle in the pair EUR/GBP


The pair EUR/GBP giving the formation of a practically symmetrical Triangle that appears in the following graph with Japanese weekly Candles.


The figure fulfills with one the principles established by the Chart Analysis (as minimum four points of contact, two maximums and two minimums), but not this way with the factor volume, since in proportion to that the triangle is formed the volume must go diminishing, which has not happened in this case, as it is possible to observe with the vertical green lines that they show the "partial" volume about this couple of Currencies.

Of any form, if we abide ourselves to the principles that they apply to this figure catalogued like of Consolidation, which does not produce changes of trend, we will have to be attentive to what happens in the following sessions, since at this moment, it fits the possibility of which of a breach to the rise of the line of downward trend, which in his case might lead to the Euro at the level of 0.8840, which I visualize as his following Resistance (line of orange color).