CapMoore

Head & Shoulders and 3-Drive Formation Targets has been reached

FX:EURAUD   Euro / Australian Dollar
77 1 0
Price has completed the target of the Head & Shoulders formation and at the same time a 3 Drive Pattern
has been completed.
Since the Yearly Pivot Point has been breached the overall bearish sentiment has increased
and further downside may be at hand. However, since two patterns have been completed this level
may give strong support with profittaking.
Just a correction of terminology: The H&S pattern target has been reached and the 3 Drive pattern completed. The target of the
3 Drive , minimum is the 3/8 fib of last leg.
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