The last few weeks were good to those who chose to swing trade  EURUSD, selling this pair on  tops, and buying it back on bottoms…

However, you should notice that this pair is actually narrowing its trading range since Oct 26, forming what we call in technical analysis -” a triangle shape”. this shape is bound to break some time in the near future, putting an and to the defined range we have right now ( between 1.3790 to 1.2990).

As for today, a very heavy buy order on EURUSD at around 14:00 GMT has triggered a quick move to 1.2816, however the sellers did not hesitate, and pressured the pair  straight back to 1.26, another  swing action out of so many.

The USDJPY is also narrowing its range so far this week, forming a triangle shape as well. The triangle breaking points are at this moment 96.36 on the down side, and 97.29 on the up side. Notice that a clear break is needed before we can say the range has been broken.

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