After the market had a double top, pullbacks respected the pivot at 1.3250, and the market slide sharply over the 3/22 European session. In the 1H chart you can see the RSI fail to return above 60 and now dip below 40 showing loss of bullish momentum. Also, heading into the 3/22 US session, price action completes a head and shoulders pattern as it slides below the neckline at about 1.3165. Note that the neckline was also in confluence with a rising trendline when broken. The market now stalls at 1.3140 area (50% retracement of the 1.30-1.3282 swing), which is in confluence with the 200 hour simple moving average. In ... (full story)