FOREX PRO Weekly January 21-25, 2013

[Joshnix]

Sive I have a question regarding the possibility of an inverse H&S pattern on EUR/USD. Take a look at my weekly chart.

 

[Sive Morten]

Sive I have a question regarding the possibility of an inverse H&S pattern on EUR/USD. Take a look at my weekly chart.View attachment 8057

Hi Joshnix,
yes, this might be so, we've talked about this pattern already. The one lack of it is a harmony, since right shoulder looks too skew. Still it does not add much to analysis, since AB=CD pattern that we monitor currently and previous 1.618 Butterfly (that is in fact is reverse H&S) give the same target around 1.3830 ultimately.

 

[Zaleske]

Looks like we just had a very mean bullish stop grabber on H1.
Can't seem to be able to upload picture for some reason, but i guess it is pretty obvious.

 

[Sive Morten]

Looks like we just had a very mean bullish stop grabber on H1.
Can't seem to be able to upload picture for some reason, but i guess it is pretty obvious.

Yep, it was... really outstanding. Besides, thanks to that we could get daily one as well...

 

[Ghandi1]

It seems the daily stopgrabber is in progress with the todays low at 1.3265

 

[alexoptimistic]

a bit difficult to choose the entry point to go long... maybe i'll wait for the breakout of Monthly Resistence 1.3372.

 

[Venelin]

Yep, it was... really outstanding. Besides, thanks to that we could get daily one as well...

Maybe it is wise to wait for daily to close, and see if it is a SG or not.

 

[Ghandi1]

a bit difficult to choose the entry point to go long... maybe i'll wait for the breakout of Monthly Resistence 1.3372.

Current level (1.3307) seems to be a good level, 1.33045/5 have some support

The sequence is indicating 1.3395 and 1.343 as a target

 

[BeeKay8]

Maybe we have some sort of bearish dynamic pressure on the daily?

Daily is bullish but price action does not confirm this......

Could this mean possibly taking out of 1.2996 low?

 

[alexoptimistic]

and the double top is not yet ruled out (now it's kinda triple top... ) however the fundamentals don't seem to support such a big move down, but we never know...