June 25, 2010

EUR/USD head and shoulders and triangle break

  • EUR/USD has broken down from a head and shoulders and triangle pattern in hourly chart.
  • Both patterns seems to suggest some weakness going ahead.
  • But if these are false moves then we can expect some positives.
  • failing to close above 1.23 will be negative and that means slipping back to l.22 levels again.

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