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EUR JPY Breaks Inverted HeadandShoulders Neckline

By admin on 03/04/2010

Price action on EUR/JPY, a daily chart of which is shown, has made a tentative breakout above the horizontal neckline of a well-formed inverted head-and-shoulders formation (a bullish reversal pattern). This neckline resides in the important 125.00 price region. The key initial upside target on this neckline breakout resides in the very significant 127.00 support/resistance [...]

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EUR USD Potential Inverted Flag Pattern

By admin on 08/01/2010

Price action on EUR/USD, a daily chart of which is shown, has consolidated in an inverted flag-like formation since late December. This occurs after price dropped substantially starting in the beginning of December, breaking down below a key uptrend that had been in place since the March lows. In the process of dropping, EUR/USD also [...]

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