Inside technicals and chart patterns by 
I’m looking at this level regardless of what happens next week. The “000″ psychological level is a near term ceiling. The high was 1.3007. The short term charts — for me, the 30 and 60 minute charts — are heading higher in a mark up cycle. I have been swing trading these time frames, but my willingness to buy as prices near the 3000 ceiling is diminishing…
Ok, so where does a potential ECB rate cut factor in? Well, all fundamentals must be confirmed by price action and the discounting of this should create a near term ceiling…and I’m looking to the triple zero level. So what if that level is broken to the upside? I will focus on 1.3100 and 1.3181.
- Raghee