Weekly charts

EUR - We appear to be forming the right shoulder in a head and shoulders pattern. Lots of things need to unfold, firstly to trade lower following this weeks negative close that seems to have rejected a move up. We need to get to 1.2700 neckline area and that needs to fail. That is a proven support area. If it does fail the measured move (high to neckline) should be mirrored below the neckline, implying a target 1.2000 and under.

GU - An evening star pattern 3 bar reversal suggests downside.

EJ - Hammer closing at the weeks highs, suggests upside.