EUR/USD has created one of our favored chart patterns.
In the below 30 minute timeframe chart, EUR/USD has created a false break out (See previous post regarding EUR/CAD) on the lower Bollinger Band. It has since revisited that level and held. We feel that the 1.4195 – 1.4200 level is a short-term support level.
We buy at market (current ask 1.4206) with a Stop Loss level at 1.4172, and a Target Level of 1.4265
Back Bay FX Services, LLC
Thanks to FX Sol and Accucharts for the below image.