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Day: February 17, 2013
February 172013
Inverted Head-and-Shoulders on Weekly EUR/AUD Chart
An inverted head-and-shoulders chart pattern can be seen on the weekly chart of EUR/AUD currency pair. It is sloped down and the right shoulder is visibly smaller than the left one, but its long-termbuilt-up (lasting since December 2011) hints at a high probability of success in case of a bullish breakout. Unfortunately, the pattern has already broken out through the neckline. Somehow I failed to notice it for at least 8 weeks. Nevertheless, I will […]
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February 172013
Ascending Channel on Daily USD/CAD Chart
On its daily chart, the USD/CAD Forex pair is trading inside a rough ascending channel since December 11, 2012. The upper side of the channel is not fully defined (only two price spikes touching it), while the lower border has been broken on February 7. Although there is no significant downtrend prior to this channel, a bearish breakout should be expected as the pattern usually signals a continuation […]
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