EUR/USD Technical Analysis for July 14, 2011

The EUR/USD pair rose on Wednesday as the Fed Chairman, Ben Bernanke, testified before the US Congress and stated that QE3 wasn’t ruled out. In fact, most traders seem to think this was a laying of groundwork for that to be the next move. However, it should be noted that the pair stopped right at the previous uptrend line of the recent triangle. Because of this, we are very, very hesitant to get involved at this moment in time.

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Forex Mansion