Thursday, March 26, 2009

Forex: Bull Flag In The Euro



The Euro has been very strong over the past 3 weeks and is now consolidating forming a classic bull flag pattern. Notice the heavy volume yesterday which may mean the funds are moving into this ETF. A move above Wednesday's high may prove to be quite bullish for this currency.

3 comments:

Anonymous said...

Kevin,

Thanks as always for your great blog! My question would be if with today's fall in the Euro, do you consider the bull flag still valid? Bull flags seem to be good set ups, although I've never used them.

Thanks, Joe

Kevin said...

The bull flag is no longer valid...Thanks for reading Joe..

Anonymous said...

Hi Kevin,

Today faill in the Euro seem to indicate an island reversal/top. You think it is a good time to short?

regards,
KY

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