Intraday Market Thoughts

Reconciling the Two Formations

by Ashraf Laidi
Oct 10, 2018 11:25

Is the formation on the WEEKLY EURUSD chart from July 2017 to today showing a head-&-shoulder formation? Is the formation valid? What about the inverted head-&-shoulder formation on the DAILY EURUSD? Is that valid? How do the two formations reconcile or support one another? I have already tackled this issue in the Premium video titled “Invalid Thesis” from Sep 17, only for the analysis to be challenged these past few days. That is why I put forward a new video yesterday titled “Testing the Parameters”, highlighting the key levels required to judge whether USD bulls will find their day in the sun again by dissecting USDX, EURUSD, USDCAD, USDCHF and USDJPY. The thesis in the video is supported by slides from my upcoming presentation in Paris tomorrow. It touches upon some common mistakes in charting, while recalling those crucial days in mid-August and how we can learn from them. These EURUSD and USDX developments remain central to all macro traders. The full Premium video is here.


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