Go long after the consolidation, Draghi spoke

12 Mar 2016

Last week Mario Draghi had surprised the market with his announce of an possible scenarie of no more monetary stimulus on the economy. Bringing a sigh to the bull traders on EURUSD. According to the chart, we can see an importante price area at the level of 1.1200, at the same time, we can watch an decreacing channel, with LH, creating a descending triangle pattern. In the mid term, the market is behaving a uptrend channel. So, my idea, is to wait for the consolidation that will be formed on the triangle, and wait for the break even for go long.