TRENDLINERS OUT THERE! THE EURO IS NOT OUT OF THE WOODS YET!
I have seen countless charts for the Euro with trendlines that are typical to the yellow one I drew - they all hit somewhere at 1.05. If you trade using trendlines or incorporate them in your analysis, then you have be as objective as possible with them. The only way we could really be objective about trendlines is by perfectly lining up price points. Using that logic, here is where the Euro stands with regard to the monthly trendline from early 2000/2001.
My trade:
Short @ 1.11
Stop @ 1.12
Target - small time frame determined
My trade:
Short @ 1.11
Stop @ 1.12
Target - small time frame determined
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