Wednesday, June 15, 2011

The Advisor Weblog

The Advisor Weblog

EUR/USD: head and shoulders pointing to 1.3900

Posted: 15 Jun 2011 04:38 AM PDT

The Euro continues losing ground against major rivals, as risk turns back to aversion, and while there are still no much fundamental reasons for dollar strong gains, the EUR/USD is forming a head and shoulders figure, and struggling with the neck line:

 

Here are the technical levels, and the target of the figure, if the neck finally gives up:

 

 http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/06/15/02/


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Posted by at 6:22 PM

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