Path of the Euro

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the Past,
bulls are getting excited at the apex of the 5 year bull triangle.. Specs at record long anticipating 1.35 to break to resume the march to 1.40.. 1.50
guess what happen after?

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the Present,
bulls are very happy & getting excited again at the apex of another m/t bull triangle.. record longs anticipating 1.30 to break & looking for 1.33 - 1.40 again..
against this backdrop, may be the only positive factors going for the bears are good long & mid term Dollar divergent support @ USDX 84.50 plus major crosses exhibiting Dollar friendly bias..
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click on pic to enlarge


the 'Future'
good size s/t stops below 1.27 along with m/t bull stops stacked below 1.26~1.24..
breaking below the s/t 1.26 target expose the m/t channel support with potential fast break down to ~1.24~
m/t targets below 1.24 -> 1.1850 <-> 1.1550 ~ 1.13

FwIwW..