Monday, June 15, 2009

EUR/USD possible Head & Shoulders

EUR/USD Daily Chart is in progress of a Possible Head & Shoulders pattern.

The neckline Support comes around 1.38 level and if we see a decisive break and a close below it should open an immediate target of the Supportive cluster of previous Highs and Lows in the 1.3550 - 1.3450 area.

First test of the downtrend would be the Previous Highs at 1.3740 and after I observe the market reaction there I would asses the market action again.

No comments:

Post a Comment