EURUSD—struggling with resistance

Euro is struggling just below 1.4145. As I noted earlier, there is some good resistance at 1.4165/75 and this is playing out. However, the pair has formed a small ascending triangle (flat top, ascending lower boundary) on the 15-minute chart. It may break through. If it breaks below 1.4109, that may be a hint it can't pull off the move up at this time.

Here's the 15-minute chart:












© Dianne Fecteau, 2011. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

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