In this Guest post, DV34 outlines his technical case for a long EURUSD position

EURUSD - shark pattern

There is currently a large EURUSD weekly shark pattern for positional trade long,

To disclose I am long a few euro pairs at present, some of which I noted in my last article

This is again for educational purposes only, in past articles I have already covered what a shark pattern is, you can find a links to these 2012 USD index (long and then short) articles here and here

A shark pattern looks like this: in this case it is the bullish version at the 88.6% retracement and is basically a text book example

Shark Patterns

Click to Enlarge Click to Enlarge

EURUSD weekly shark pattern

EURUSD Weekly EURUSD Weekly

Other charts on my radar at the moment are the bond markets which have both completed perfect bearish gartley/ bat patterns on weekly charts and also watching USDJPY: Australia 200/ XJO and the DAX/ Nasdaq Composite.

I suspect the next 2-3 weeks are going to get very interesting as we draw closer to the QE exit date and the bond markets start moving down (interest rates rising)

Hope this helps and all the best

DV34