EURGBP 11.27.11 second senario

 

Should the top side occur instead of the down as posted in my prior post of EURGBP, there is an AB=CD pattern showing itself with D at resistance.  Whether the chart moves to the downside or upside a trade should make itself present soon.  

EUR/GBP 11.27.11

EURGBP looks maintain its down trend channel.  It is forming a Bearish Head and Shoulders patters.  The right shoulder started to form and retraced after striking the 0.500% fib retracement.  Assuming a neck line break, the  next low may be in the 8200's signified on the chart by the dashed line. 

USDCAD

I understand the USD is in a big bull run, but it is still nice to know where potential ceilings are. I am not calling a top here, simply suggesting that USDCAD may pullback when it meets1.04570 creating an opportunity to long the dollar again should this move up remain bullish.

ICHIMOCU INFORMATION
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:ichimoku_cloud 

GARTELY INFORMATION
http://www.investopedia.com/terms/g/gartley.asp#axzz1elOaN1OL

AUD/NZD

The 8hr H&S pattern didn't come to fruition, but the daily chart of AUDNZD posted on Nov. 2, 2011 showing  significant areas of resistance has come to life.  If you look at a weekly time frame a lager bearish H&S Pattern is forming.

AUDNZD follow up to the 11.11.11. chart

AUDNZD broke the 61.8% retracement. However it found resistance at the 78.6%.  I hope to see a neck line break this week and a downside tot he 1.29000-1.27000's

It looks like AUDNZD is forming a right shoulder on the 8hr chart.  The resistance area in my prior chart was never breached. Should we exceed the 78.6 retracement, we may actually hit the resistance area (noted in my prior chart)before descending. A break below 12936 should send us to the mid 12700''s.

EURUSD 8HR FOLLOW UP TO THE 11.2.11 CHART

It looks like the 0.500 Retracement held resistance on the right shoulder as predicted. Then the chart broke the neck line.  It seems to be continuing down. Perhaps it will break the prior low around 1.3100's?