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EUR/USD potential head and shoulders pattern closer to completion. RSI is indicating a divergence that needs to be completed by a price breakout. Friday’s bullish range breakout on the 4 hour timeframe could be the key. Last Friday saw the EUR/USD pair to break out of range with significant volume. The popular pair has almost completed Read More …
EUR/USD could reverse on potential reverse head and shoulders pattern. RSI is indicating a divergence that needs to be completed by a price breakout. High volume on the right of the pattern is supportive of correction thesis. While the EUR/USD has been slipping downwards during the last couple of months several indications show that the end could Read More …
Falling Wedge Pattern could be a bearish correction in the larger bullish trend Price has found strong resistance at the 0.67550 level. During the last four trading days, NZD/USD has been consolidating on a falling wedge pattern. Typically the pattern forms as continuation pattern of a larger trend. The confluence with the strong support at 0.67550 adds Read More …
Mario Draghi’s speech earlier today was uneventful. Italy’s decision to consider lower deficit budget target has eased tension. Possible head and shoulder reversal pattern in development. Overview During the last couple of days the EURUSD pair has been consolidating in a narrower range. Earlier today during London session hours, the ECB president made his speech Read More …
