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Wednesday, March 21, 2012

EUR/USD "Diamond" Pattern

Looking at the bigger picture, I'm watching the EUR/USD on this Monthly chart to see in which direction it breaks, once again, outside the rough "diamond" formation. At the moment, price is trading just below the dividing apex line. The high and low of the current month represent near-term resistance and support (1.3355 and 1.3003, respectively).