EURUSD

[_nova]

Oppas, looks like EURUSD might be setting up a double top around 1.2720 on the hourlies. If it does confirm then it's going to come off the 1.28's like a rabid banshee

[_nova]

ah, the point being that it will then rally the USD Index and drop the markets quickly

[_nova]

eish! and that's 1.2820 not 1.2720

[Electrox]

Nova not maybe a double bottom on the 15min with a retest at about 1.273? the confirmation point for the Double top seems to far away to trade short term for me though.

[_nova]

hmm yes, that does look like a W bottom, but it now looks like it could become a double top as hourly RSI is also showing bearish divergence with lower highs since the 6th

[Electrox]

YEs i see the divergence, but the dailies tell a different stories all together now. The last "w" shape(9th march) on the hourleys worked quite niceley with a retest as the entry point @ about 1.26575

[#7]

ah the joys of technical analysis - patterns within patterns. turn the chart upside down boys, and let us know if our positions change

[_nova]

Electrox, well done! Looks like the W scenario is playing out on EURUSD. USD Index has just broken below 8800 again with a big gap down from 8880 and could accelerate