Sunday, November 25, 2012
The Weekly Review: Euro Up
EUR/USD broke out from its resistance and trended up. The move could further push up EUR/USD. EUR/JPY had a few false bearish pinbar, once it broke out of the pinbar it moved further up. This kind of action is called a pinbar failure. AUD/USD had a bullish pinbar up, then continuing to move north. Right now it has a bearish pinbar signalling a possible down move on Monday. I will continue to be bullish on JPY crosses as the Yen might continue its selldown for the next few months. USD/JPY had a bearish pinbar last week. So take some profit.
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