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EUR/USD Looks Technically Confused

Posted on June 14, 2009 at 20:49 in Trading Desk by Ryan O'Keefe

Howdy Folks!

Just doing a round of trade planning this evening ahead of the trading week, I hope you had a fantastic weekend! Looking at the EUR/USD this evening the pair seems technically confused. On the weekly chart we see the pair moving into the upper bollinger bands as if it would like to break higher and continue this trend but on the daily chart a big head & shoulders reversal pattern appears to be taking hold. This one will be interesting to see how it plays out over the course of a week. Best of luck this week.

IMPORTANT NOTICE: These comments are for information purposes only. My opinions or other information contained in this post do not constitute investment advice. It should not be understood as a direct recommendation to buy or sell any currency contract or other investment vehicle. Forex trading involves substantial risk of loss and is not suitable for all investors.

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