FX Indices: something has to give soon! Mary McNamara

The USDX and EURX are still consolidating within their respective triangle patterns.

 USDX 4 hr: this index is still triangle bound in a ‘Bull Flag’ style pattern below resistance from 2010 highs:

USDX4

EURX daily: this index is wedged between the upper trend line of the descending trading channel and a recent daily support trend line.

EURXdaily

I suspect that both will have to make a breakout move sooner or later. I’ve looked at the economic calendar though and I can’t see any potential big trigger event. There is French and German GDP and USD Retail Sales & Consumer Sentiment data plus G20 potential to come this week but I’m not sure that these will have the chutzpah to get these indices cracking. We shall just have to watch and wait!

The post FX Indices: something has to give soon! appeared first on www.forextell.com.

Leave a Reply