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Serving Traders Since 2005
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27th September 2009, 08:27
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EUR\USD Wedge + Head & Shoulders (220 Pips Target)
Two patterns can now be seen on the EUR\USD, both suggesting bearish trend.
First on is the Ascending Wedge which is a reversal pattern - price has already broken its support line. Second pattern is the Head & Shoulders, which is a bit dis-proportioned in the EUR\USD. It is the classic and strongest reversal patterns. Trading: Enter short after breakout of the support level at 1.4620, or at the pullback to this level. Target is 220 pips from pullback location. Analysis and Chart Pattern Trading: http://www.chartsecret.com/content/e...head-shoulders 
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