What's "head and shoulders pattern" in Forex market?

The people have spoken: see which article topic won the poll!

1. The people’s choice: read the winning article from the previous digest
2. Head and Shoulders strategy for clean trading
3. Fresh analytics to keep you updated

People’s Choice

In the previous digest we launched a poll to let the readers decide which article they want to read more.

Well, see the results for yourself.

Hurry up to read all about how to trade without losses!

Read on in the official website!

FBS Official Website

Main Economic Events and News of the week

1. February 27, 15:30 MT time – Canadian CPI
   • If the indicator is higher than the analysts’ expectations, the Canadian dollar will rise.
2. February 27, 17:00 MT time – The testimony by the Fed Chair Jerome Powell
   • The hawkish comments by the Fed Chair will boost the USD.
3. February 28, 15:30 MT time – US advance GDP
   • If the actual data is greater than the forecasts, the USD will be supported.
4. March 1, 15:30 MT time – Canadian GDP
   • The higher-than-expected figures will move the Canadian dollar higher.

FRESH ANALYTICS – Uncertain Brexit is still an issue

The clock is ticking for Great Britain, as the key Brexit deadline comes closer.

However, the deal keeps being the subject of uncertainty and the risks of a no-deal Brexit remain.

During the previous week, the British Prime Minister Theresa May was desperately trying to renegotiate her current agreement with the European Union.

Besides the comments on the possibility of pushing back the withdrawal agreement, nothing has been ruled out yet.

The representatives of the European Union suggested Theresa May to ask for an extension to the negotiating period, instead of making changes to the current deal.

But this plan would be contrary to the current position of the British Prime Minister.

Now we anticipate the Parliamentary vote on February 27.

If Theresa May and the Parliament agree on the changes to the current deal, the GBP will rise.

Otherwise, more uncertainties will pull the British currency lower.

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HEAD AND SHOULDERS PATTERN – It’s a trading strategy, not the shampoo!

What comes to your mind when you hear the words “head and shoulders”?

If it is the smell of your favorite shampoo, then you don’t trade hard enough!

Read about one of the most famous reversal patterns in FBS’s article.

FBS Official Website