EURUSD 240min on medium-term direction
9/1/14
The steeper uptrendline was broken last week and resulted in a medium term bearish outlook, dropping to 1.3575 followed by 1.3550.
From the chart, as seen in the circled area, price action above the flatter uptrend can show bullishness.
The closest main resistance is at 1.3680 and price action above it can deviate bearish expectations to bullish.
I'm currently bullish long term (unless important lows are broken) hence awaiting the bullish medium term signal.
The steeper uptrendline was broken last week and resulted in a medium term bearish outlook, dropping to 1.3575 followed by 1.3550.
From the chart, as seen in the circled area, price action above the flatter uptrend can show bullishness.
The closest main resistance is at 1.3680 and price action above it can deviate bearish expectations to bullish.
I'm currently bullish long term (unless important lows are broken) hence awaiting the bullish medium term signal.
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