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EUR/JPY Rally - Head and Shoulders Bottom Reversal Pattern

Discussion in 'Signal Services & Software' started by GCAM, Apr 5, 2010.

  1. GCAM

    GCAM New Member

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    Asset Manager
    EUR/JPY - Follow Up
    by Chris Brueck of Gold Coast Asset Management Inc.

    As anticipated, EUR/JPY has confirmed it's trend reversal with a sustained break above
    the Neckline of the Head and Shoulders Pattern that we pointed out last week. The
    rally is strong and has even broken above our last resistance point of 127.00. Our
    minimum target for this pair over the next couple weeks will be 130.00-15 area.

    Gold Coast Asset Management is a leading investment manager for institutions, individuals and financial
    intermediaries, worldwide. Investors from hundreds of countries around the world have access to large
    insurance protection for their margin deposits.

    For more information visit: www.GoldCoastAM.com

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  2. GCAM

    GCAM New Member

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    Occupation:
    Asset Manager
    For traders who missed opportunities to buy on the upside breakout,
    the EURJPY is presenting another buying opportunity on its first correction
    since the sustained break above the neckline.

    %R indicator is in oversold territory and price action is stalling in
    a support area 125.00-25 just above the neckline.

    On the way up, watch for resistance around 127.75-128.00. A sustained
    break above the resistance zone should push price action to our minimum
    target of 130.00-15 in a short amount of time.

    Gold Coast Asset Management is a leading investment manager for institutions, individuals and financial intermediaries, worldwide.
    Investors from hundreds of countries around the world have access to large insurance protection for their margin deposits.

    For more information visit: www.GoldCoastAM.com


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