Friday, August 20, 2010

EURUSD head and shoulders

Let’s take a quick look at EURUSD 4 hour chart.

Pair broke second important trend line, following break of one in early August. There is more than obvious head and shoulders pattern with neckline around 1.27 being broken. Target for pattern is around 1.21 to 1.22, so we should see more on downside.

EURUSD is in very strong down trend and it looks like it is going to stay like that.

Trade with trend.


Jaco said...

Hi Igor

I stumbled upon your blog at the beginning of this year. This is my 4th year trading futures (3rd year successful) and your blog really contributed in refining my own trading strategy. I would just like to thank you. So, thank you! I'm curious - Do you only trade futures or currency as well?

Alsi Trader said...

Hello Jaco and thank you for kind words.

To answer your question - I am trading ALSI futures only.

All the best with your trading