In technical analysis, you will often hear traders talk about the head and shoulders pattern. But what do they mean exactly when they talk about that? Read more >>
As we explained to in our EUR/CHF video a few days ago, the recent gains in the EUR/CHF may not necessarily indicate that there is significant strength in this pair just yet. The reason for this is that most of the buying of this pair has been done at the hands of the Swiss National Bank who has stated that a EUR/CHF rate below 1.2 is not tolerable. Read more >>
As was outlined by Chris last week in his AUD/NZD video the pair could be looking to move higher. It’s shaping up as a head and shoulders bottom with support shown at the 1.254 level by the chart. The AUD/NZD tends to be a “grinding pair” in that large significant moves are rare given the economies are so closely linked together. Read more >>
The head and shoulders pattern is a strong reversal signal that normally gets traders to sit up and take notice. There are two variations of the pattern, the normal head and shoulders, and the “inverse” head and shoulders. Play video >>
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