July 1, 2010

EUR/USD is forming a bullish pattern

UPDATED CHART SHOWING BREAK OUT
  • A cup and handle pattern is forming in eur/usd pair.
  • I have to say the cup portion has not formed a perfect U. But still ia breakout from the channel in which it is trading now can give the same results.
  • Break of the channel bottom will invalidate this pattern.
  • And the chart is also showing a bull so flag similar results on a break out.

4 comments:

  1. it also shows a bullish flag? what indicators are indicating ?

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  2. Hi San.

    Below what Point is the USD Index considered as Break Down?

    Mayur

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  3. @Wealth
    That's right i have updated the chart

    @Mayur

    The USD becomes weaker on a close below 85. and there is an important trend line in daily chart a break below that will give a good correction. I will update the chart tonight.

    ReplyDelete
  4. Hi San.

    Thanks for the reply. Looks like the EUR/USD will help us with the 5th Wave that we are looking for.

    San: I have a request, & if possible would appreciate your Input.

    Aban Offshore, as per my reading of the charts has been moving through an upward channel; if I am seeing this correctly the Stock since the fall during May to date looks to be forming an Inverse Head & Shoulder with Targets of 1000+ to be achieved possible within the next 4 - 7 days. Your vision on the charts will be helpful.

    ReplyDelete