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Day: April 1, 2012
April 12012
AUD/JPY Daily Chart Shows Head-and-Shoulders Pattern
Forex traders can spot a really interesting head-and-shoulders chart pattern on the daily AUD/JPY chart today. There are several good reasons to pay attention to this particular formation. Head-and-shoulders is a strong trend reversal signal and the current pattern is topping a rather strong upward wave. The pattern is also 6 weeks wide, which means that it’s a fully formed medium-term signal. Thirdly, the right shoulder’s height […]
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April 12012
Yen Posts Losses as Week Ends on Optimistic Note
The Japanese yen fell this week as market sentiment was swinging back and forth among pessimism and optimism, but ended the week leaning to optimistic outlook for Europe and for the global economy in the whole. Traders were feeling optimistic about Europe’s ability to overcome its crisis. The US economy still looks robust, even though some data made investors worried. Even China is still considered an economic powerhouse by many experts […]
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