Posted by: rp on the 4th of Jan 2012 at 11:31 am
so far today, the EUR/USD has made a bearish engulfing candlestick that engulfed the previous 4 trading sessions, and easily erased (and then some) the strong move up yesterday which gave us that big gap up and out of those index triangle patterns. also note that this has invalidated yesterday’s breakout of that falling wedge pattern i posted last week (i.e.-bull trap/fake-out in the euro). day is still young however, so waiting to see how we close.