In the chat room yesterday, a hawk-eyed Pivoteer flagged an interesting opportunity in the euro, of all things. The bullish pattern is shown in the chart, and although the futures are obviously having trouble getting airborne, the target itself at 1.3742 will remain viable — and tradable — unless the point ‘C’ low at 1.3664 is violated. Camouflageurs will be in store for a nice Christmas gift if there’s a rally to just above ‘external’ peak #2 followed by a shallow B-C pullback. The subsequent follow-through (C-D) rally would generate the kind of ‘x’ entry signal that can be worth waiting for. _______ UPDATE (January 6): The euro broke down last week — badly — so this one was a non-starter.
