EUR/USD weekly chart - possible outcome
A theoretical outcome for the weekly chart:
EUR/USD may form on weekly a Head and Shoulders pattern and then reverse, respecting the range it is in right now or it may form a Double Bottom with the second bottom around 1.22s.
What is of importance is that we are now in a correction down from the ascendent wave of 1.2071 to 1.3100, and the correction is not finished.We are also in a downtrend channel on Weekly and Daily.
EUR/USD Weekly
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Comment by ROBERT JOSEPH PAULO on October 3, 2012 at 7:58pm -
well done levels
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Comment by talisman on October 4, 2012 at 1:03am
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that looks well thought out, how would you frame a trade today based on this analysis?
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Comment by Andre Hughes on October 4, 2012 at 9:00am -
Today, no good setups on the H4 and H1 timeframes. Concentrate on the Daily timeframe, I have a good setup there.
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Comment by Andre Hughes on October 4, 2012 at 9:00am
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Also today might be a highly volatile day in the markets because of the news.
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