Monday, 20 June 2011

EUR/USD Turns Down At Neckline

Hourly candlestick chart showing the EUR/USD for the past month. Early last week the market broke the Neckline of the Head and Shoulders top, then on Friday re-tested the Neckline. Today the market has headed downwards. A break below the most recent low and nearby trend line would raise the odds for a move toward the Head and Shoulders target, around 1.39.