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I am currently working as a Currency Strategist at the Trinidad and Tobago Unit Trust Corporation with responsibility over the TTUTC Global Bond Fund. I was previously responsible for the TTUTC Universal Retirement Fund. I am a graduate from the University of the West Indies with a Bsc. in... More
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  • CTA 24-Jan-14 EURUSD 0 comments
    Jan 24, 2014 6:40 AM | about stocks: FXE

    The pennant pattern setup, seen in XAGUSD, is also seen in EURUSD. The setup began on 23rd January, where EURUSD increase from 1.35384 to 1.36981, a 1.18% move. From there EURUSD declined for the past day to an hourly low of 1.3664. From there a morning star formation seems to be completing, where EURUSD spiked to 1.3735. For the pennant pattern to be completed, EURUSD has to hit 1.38331, a 0.71% move higher. Thus traders can risk 0.51% for a 0.71% gain.

    (click to enlarge)

    Stocks: FXE
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