Posted on August 17, 2009 at 17:13 in Uncategorized by Pierre Charlebois2 Comments »

The USD/Index is looking a little overbought. So some retracement is due.

However the obvious Head and Shoulders pattern is providing a barrier to watch, for further USD strength.


Posted on May 13, 2009 at 12:22 in Uncategorized by Pierre CharleboisNo Comments »

Hi folks.

Sorry I was a little under the weather after my long flight home and off for a few days.

Here is a beutiful looking head and shoulders pattern on the USD/JPY.

As you can see we have already broken the bust-line. I find it quite interesting how many annalists have different opinions on what the technical target is once the line is broken. Here’s the simple truth.

The amount of downside on this pattern varies tremendously and that is because one never knows if this is just a correction on the way higher or if this indeed is a longer term top.

I will follow this one over the next few weeks to see where we land.