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07 June 2007

EURCHF has broken Head & Shoulder's Neck line

EURCHF has broken Head & Shoulder's Neck line


Yesterday strong move down took the Bearish Fractal and Double Bottom without any hesitation.
Taking breath market formed Bullish Divergent Bar witch does not seem valid because of its angle and position - too close to alligator's lines. Naturally for this correction Acceleration had turned up, but for the moment there is no signal for reverse.

Anyway lock your profit and let's look what will be next move.

The above point of view is supported by daily chart where we have Head and shoulder Formation and a break of the neck line. Acceleration and Momentum also support down direction.

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