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Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

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UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. July 18 @ 2:00 pm ET ~ Beige Book Report
* Wed. Aug. 1 @ 2:00 pm ET ~ FOMC Announcement
* Fri. Aug. 3 @ 8:30 am ET ~ Employment Data
* Fri. Aug. 10 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Aug. 22 @ 2:00 pm ET ~ FOMC Meeting Minutes
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*** Click here for link to Economic Calendars for all upcoming events

IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance

Tuesday, June 21, 2011

TF Re-visits "Blue Triangle" Trendline...EUR/USD & the "Fight at the 50"

I've referred to a "Blue Triangle" formation on the TF in several posts over the past few weeks...it's shown on the 4-hour chart below. As can be seen, price returned to one of the triangle trendlines in play today (at around 800.00ish) after finding support at a parallel trendline (yellow) (at around 770.00ish) last week. This triangle trendline is in between the 50sma (red) and the 200sma (pink)...price may bounce around in between these two moving averages until either a new uptrend forms, or the downtrend continues.


For a clue on what the TF does tomorrow (along with YM, ES & NQ), it's probably worthwhile watching EUR/USD to see if price makes it (and holds) above near-term resistance (the 50sma--red) on the Daily chart below, or whether it falls into decline once more...


"The recession has hit everybody...CEO's are now playing miniature golf."
Author--Anonymous