Monday, 16 April 2012

EUR/USD breaks lower through Head and Shoulders neckline

Earlier today the EUR/USD broke lower through Head and Shoulders neckline, but has not followed through (as yet?) and is currently trading back above the neckline.

ASX ascending triangle potential

I haven't illustrated the ascending triangle potential for a couple of months. Ascending triangles can act as either continuation patterns within an up trend, or as reversal patterns within a down trend, such as the ASX 200 is showing on the longer term charts. To my eyes, a move below the March low is required to take this potential off the table.