Forex-Analysis.net: Bullish Megaphone in EURUSD

ChartSecret

Master Trader
Jun 26, 2009
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EUR\USD is highly likely to continue the strong uptrend despite the slowing momentum. This is due to two chartist signals:
1. Precise 38.2 Fibonacci Retracement that took place few hours ago, which is a strong continuation signal.
2. Megaphone pattern - which is a reliable chart pattern that also increases the possibility of a breakout upwards and continuation of the uptrend.

Long trade will be signaled if price touches the support line and bounces. Long trade will also be triggered when price breaks the resistance line.

Source:
Forex Analysis
 

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