Sive Morten
Special Consultant to the FPA
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EUR/USD Daily Update, Thu 11, November 2010
Good morning,
EUR has shown W&R of previous lows yesterday, although I've thought it should be a bit deeper, it still a W&R.
Now, on hourly chart reverse H&S pattern is forming with nice risk/reward ratio. In general, we do not want to see cancelling of W&R pattern, i.e. moving below the Head of H&S.
The minimum target is 100% Fib expansion around monthly pivot, but market even can reach 1.618 expansion
Good morning,
EUR has shown W&R of previous lows yesterday, although I've thought it should be a bit deeper, it still a W&R.
Now, on hourly chart reverse H&S pattern is forming with nice risk/reward ratio. In general, we do not want to see cancelling of W&R pattern, i.e. moving below the Head of H&S.
The minimum target is 100% Fib expansion around monthly pivot, but market even can reach 1.618 expansion