As for my technical analysis, the image on the left is the daily chart of NZDUSD of the forex market and we can see an uptrend from March-October of 2009. From November 2009 to present, we see a slightly declining trading channel as indicated by the blue lines but overall I see an uptrend. As we zoom in the 3-hour chart, it becomes a different story. What we see is the price trying to break out from the resistance line. Although, traders have different personalities, some would buy this now and anticipate the breakout from the resistance line (I sometimes do that), some would probably buy upon breakout, some would either go short or long depending on what their technical indicators show and the list goes on. Personally, I wouldn’t mind shorting this at its current price and placing a stop loss right above the yellow resistance line or when it breaks out. In case shorting would fail and my stops hit, I can still opt to buy long since it just had broken out from the resistance line. It really depends on which trading style you apply. At the end of the day, regardless of going long or short, do what works best for you.