The reason i see behind the strength (of defense) of this eu 3400 barrier is that it has lined up perfectly with the big 9000 barrier in uchf.
Now Eu has a long way to go (trading at 3360) opposed to uchf ( trading @ 9005) but once uchf takes out its barrier the job will become easy for eu to knockouts its own barrier.
Now there is another barrier at 3425 on eu question is will we take it out on the first go when we break the 3400 mark or will it be more like 3400 play?
I think there is a very healthy chance that it will be taken out as soon as 3400 is taken out, cause this barrier has resulted into a technical breakout pattern too and there are a lot of buy interest is gathering up @ and above 3400 which combined with SL selling will be enough to knock out 3425.
Now Eu has a long way to go (trading at 3360) opposed to uchf ( trading @ 9005) but once uchf takes out its barrier the job will become easy for eu to knockouts its own barrier.
Now there is another barrier at 3425 on eu question is will we take it out on the first go when we break the 3400 mark or will it be more like 3400 play?
I think there is a very healthy chance that it will be taken out as soon as 3400 is taken out, cause this barrier has resulted into a technical breakout pattern too and there are a lot of buy interest is gathering up @ and above 3400 which combined with SL selling will be enough to knock out 3425.
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