CapMoore

Weekly Study (additional)

FX:EURAUD   Euro / Australian Dollar
143 0 3
Notice how the target of theInverse Head & Shoulders Pattern
has been reached and exceeded 2x perfectly ! Some heavy
Bearish Divergence occurs at the current top and the newly
formed Head & Shoulders pattern is still in play, even though
progression is slow at this point with a retest twice of the
slightly descending neckline (see previous posts). A weekly
close above 1,5020 may put the current H & S pattern in question.
The lower blue line in the Pitchfork , can be used to lift off
some profits and/or play a bounce off. A weekly close below
this blue line will open up for further downside or even an
resumption of long term downtrend.
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