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Forex pairs in this Article » EUR/USD (New York) - Much has been made of a Head and Shoulders pattern occurring in the EUR/USD, however this has mostly been conjecture.

According to Tim Riddell, Head of Global Markets Research at ANZ, “The current push above 1.3250 may raise concern over an extension towards 1.3475-1.3500, however the overall pattern remains the same. A broad range is being defined with the bias being that the squeeze may falter in the 1.3300’s.” An extension should merely define a 1.25-1.35 range. Moreover, dips below 1.3115 would signal that the range has been defined.
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