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EUR/USD Daily and 1hr Possible Head and Shoulders Playing Out

Posted by dave hems on January 9, 2011 at 12:14pm

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On the Daily notice the spacing between the 20 and 50ma, also the euro usd is below all the Moving averages which is a bearish sign, watch the 1.2796 area for support as it is the 61.8 fib retrace, Notice the 1hr chart, this is the daily overlayed on it and shows the same  H and S Pattern

 

Any Comments or views would be appreciated 

 

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Comments

  • JamieD January 9, 2011 at 8:07pm

    looks scary Dave,

     

    Nice chart, should put the FTSE under some pressure

     

  • Aadil January 9, 2011 at 6:21pm
    looks good Dave
This reply was deleted.