finitemonk

EURUSD _LONG TERM H&S

FX:EURUSD   Euro/U.S. Dollar
95 0 2
Interesting H&S formation.
Point A @ 1.286 - below which it breaks the neck.
(The gently sloping lower left to upper right lines are a very long standing
Andrews Pitchfork )
Thoughts ....
For: Continued/Accelerated Euro             Crises (strong)
Against: (i.e weakening the dollar) Collapse of Nikkei (again - predict - around 8th July)
Continued rebound/rise in metals (not likely in short term to any extent) (weak)
Dollar is at 13th month high (strong)
All things considered I find it unlikely bar serious escalation of crises the euro             will break below point A without a bounce right there.
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