EUR/USD retested last March levels (1.0570/1.05) and also the multi decadal channel back in November after which it has embarked on a recovery. This week it has confirmed an inverted H&S and in the process it has also crossed above multi month weekly channel resistance (1.1060/1.10). With the weekly indicator breaking a descending trend, the pair appears to extend the phase of rebound. Currently it is approaching 1.1270, with potential for the inverted H&S. A test of graphical levels at 1.1440/60 cannot be ruled out. However, only a durable move above that will open the next leg of the rally towards last August’s ... (full story)