The EURCHF daily chart shows a head-and-shoulders like pattern after the trendline break. I recon that the H&S patter should show at the end of a prolonged uptrend not within the prior downleg. The ‘neckline’ of this pattern is close to the level of the trendline breakout which means that the loss of that support will trigger further downside.
Tag Archives: headandshoulders
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August 2018 M T W T F S S « Dec 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
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- XAUUSD Outlook: Bulls Face Strong Headwinds at Falling 10SMA
- EUR/USD Mid-Day Outlook
- GBP/USD Mid-Day Outlook
- USD/CHF Mid-Day Outlook
- US Dollar Index Heads Lower But Remains in Upward Pattern
- USD/JPY Mid-Day Outlook
- Dollar Stabilizes Mildly as Selling Focus Turns to Yen
- EU considering unscheduled summit in November to handle Brexit
- Into US session: Yen and Dollar Weak, Euro strong as German-Italian spread narrows