Wednesday, December 2, 2009

AUD/USD Head & Shoulders Reversal


Here is a possible long term outlook for the AUD/USD currency pair (4 Hour Chart). I expect the USD to gain some momentum before the end of the year, so this longer term scenario is a real possibility. If this head and shoulders pattern plays out accordingly, a break of the neckline will give us a target of around 85.20.

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