An overview of the
currency markets by 
Hello everyone.
Welcome back to another trading week. I wanted to take a break from analysis and forecasts for a day and take somewhat of a ‘coffee break’. And although this is not a forecast, I hope this will potentially help you in your own trading because that is what we want you to achieve.
Part of our analysis involves trendlines. Many times when we are approaching a trendline (as we were in the EUR/USD daily charts), we said to watch for a break of the black line and for the pair to keep moving down.
The pair did break the line, however, you can see it quickly retraced back up. So, although this may constitute a break, we didn’t trade this because it didn’t close below the line and then continue down.
This is a good rule to follow when entering the market near trend lines.
So, you ask - what do we do now? We look at shorter time frames to see if there are any internal wave counts that could indicate a retracement or continuation.
We’ll save that for our next coffee break.
Good luck and happy trading.