The Right Hand Shoulder took a little bit longer to form than originally thought - but the pattern is looking all the better for it now. Nice and symmetrical - with an obvious neckline at 0.8200. Short on a break/retest. Good luck!
Nice and clean Head and Shoulders pattern on the Kiwi. Measured move would be about 350 pips. Triggered on a break below the neckline which comes in around 0.82. $NZDUSD
Similar to its currency cousin, AUDUSD, the AUDCAD cross is also entering an area of historic supply going back quite a few years. On this monthly chart, we can see that price has made it right into the zone of resistance where bears have been quite happy to sell the pair aggressively on a number of previous occasions. Evidence of any weakness in this area could...
It is easy to get carried away with all of the US dollar negative sentiment that has been around today but it is worth remembering that the dollar bears still have some levels to overcome over the course of the coming days if they want to really take control. Despite the heavy dollar selling today, the right shoulder of this potential head and shoulders pattern on...
Monthly Chart - AUSUSD has now retraced about 50% of its fall during the earlier part of 2013. The area between 0.96 and 0.98 has proved to be significant both in terms of support and resistance in previous years. The pair is overbought on the daily charts and as a consequence, any signs of exhaustion would represent good opportunities to sell this pair.
USD/CHF seems to be putting in a meaningful bottom, culminating in an inverted head and shoulders pattern on the 240 minute chart. A break and hold above the neckline as shown should open up the pair for further gains towards the 0.93 level.
On the longer-term timeframes (weekly/monthly) the USD/CHF pair is currently sitting on long term support which, if it...
