Downward Triangle Setup for the EURUSD

24 Tem 2013

Here is my view on the EURUSD for the next month. Im looking for resistance around the 1.33 mark then a pull back to the main support line of 1.28. I am really doubting the ability of this to get over the 1.34 mark unless the US FED decides the US economy is still to weak to begin the taper/tightening schedule like they were expecting to. If the US numbers are weak and the FED doesn't start to begin tapering in Sept. then watch for this to make a break out of the current trend and move towards the next major resistance mark of 1.36.