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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.