week15 EURUSD monthly triangle and d1 bull flag

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Monthly charts shows EURUSD now at tip of multi year triangle.
Pending month close, it may suggest EURUSD to resume its trend in 2013.

week15 EURUSD Monthly triangle breaking out 110414

d1

the recent EURUSD bearish downmove have indeed lent strength to other bears for EUR crosses,
such as EURAUD and EURNZD. However, is this really a case of EUR weakening, or is because of other crosses strengthening?

Looking at the manner in which EURUSD had weakened over the past 2 weeks, it actually suggests a bull flag has been setup, and now price may be on the way towards bullish expansion. A strong weekly close above 2013 high may suggest continuation of the bullish trend seen in 2013.

week15 EURUSD D1 bulish flag completion 110414

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